44 karma · joined October 8, 2016
Jumping to the conclusion that "taxing the rich" could solve anything is completely wrong. You would just make things more expensive and add extra incentives to take jobs abroad. It doesn't matter that the model is too simplistic, the problem is that this model is too far from reality.
I understand that humans are changing the Earth's environment, but with this we need to acknowledge that other organisms are doing it too. In particular plants have been taking CO2 from the atmosphere for ages and continue to do so. If you look at CO2 concentrations for long periods of time, you'll find that the levels of today are not very different from what has happened cyclically for hundreds of thousands of years.
The difference may be on the fact that now we are adding an extra influx of CO2 to the atmosphere, but in doing so we may be balancing greater concentrations of water vapour, which is a much more efficient greenhouse gas. If doubling the concentration of CO2 increases the temperature of the atmosphere, in say one degree, to gain another degree you'll need to double the concentration of CO2 again, so the effect of concentration of CO2 on temperature is logarithmic. Water vapour is much more efficient and by decreasing the amount of CO2 in the atmosphere we may increase the amount of water.
This is because of how photosynthesis (and agriculture) works. A plant breathes air in through small pores on their leaves called stomata. Doing so allows water to evaporate through those same pores. If the concentration of CO2 in the air is low, the plant will need to evaporate more water to absorb the same amount of CO2. On the other hand, if the plant doesn't have enough water to evaporate, it will close its stomata and the result will be lower growth and poor yield, simply because of the lack of carbon. Since nowadays many agricultural plots are using water from aquifers and other underground sources, we are actually putting into the environment much more water than would have been without agriculture. If we decrease the amount of CO2 we may push even further the plant's need for water and produce more water vapour, pushing even further the warming, since water is much more effective than CO2 as a greenhouse gas.
We may be fighting against the wrong enemy. And in doing so punishing unfairly the poorest of the world, who rely on fossil fuel for energy and those who will be the most affected when crop yields start falling and the water available becomes insufficient.
I haven't been able to find a global warming model that incorporates this effect, but if someone made it this far into this comment and knows of any model that does, I'll be very grateful to hear from it. If someone related to this project reads this, please discuss it. It may be a mute point because some reason that I don't know, but it may very well be an important one.
Then he goes and mocks the idea of having a trustless currency system but IMO he misunderstands the idea. If you use the currency for exchange you still have to trust other people, for instance if I use bitcoin on Amazon, I'd still need to trust Amazon and possibly some other merchant. The part of trust you are taking away is not between people, but towards the ability of the State to issue money and regulate its value. But then libertarians may come up with some other ways to achieve this that do not involve cryptocurrencies. Furthermore, you don't need to be a libertarian to agree on that principle. One example of this is Chilean Central Bank, which -unlike the FED and by the Chilean constitution- cannot buy the government's debt, so the government can't just keep printing money for political reasons, like many countries in the region have been doing for decades.
So whatever lesson he is trying to teach seems a bit farfetched. Bitcoin may die and not mean a single thing for libertarianism, because IMO it's success depends on technical implementation, not ideological barriers.