OpenMarket » What do economists really think about global warming: "In other words, if we adapt, we won’t be hurt. If we sit and cower, however, we will be. Reducing greenhouse gas emissions by caps and taxes actually lowers our ability to adapt because it makes adaptation more expensive. Some adaptation, of course, will reduce greenhouse gas emissions anyway, so that’s a win-win. And all of this presupposes that the impacts of a warming world will be as severe as the models suggest when, as we saw yesterday, that’s a big if."