Economic forecasts predicting the potential impact of climate change grossly underestimate the reality and have delayed global recovery efforts by decades, a leading professor has said.

  • Economic forecasts predicting the potential impact of climate change grossly underestimate the reality and have delayed global recovery efforts by decades, a leading professor has said.

  • Mainstream economists “deliberately and completely” ignored scientific data and instead “made up their own numbers,” Steve Keen, a fellow at UCL, told CNBC.

  • Now, a “war-level footing” is required to have any hope of repairing the damage, he said.

The referenced paper: The appallingly bad neoclassical economics of climate change