Concrete Solutions for Combatting Climate Change

During the last week, industry insiders, government officials, lobbyist, and community stakeholders from around the world descended upon Poland for COP24. What remains abundantly clear, combatting climate change is a multi-faceted, complicated problem. However, sacrifices in the short-term must be made to ensure the long-term health of our planet is secured. This is epitomized by the need to transition away from the use cheap cement in infrastructure development and construction projects across the world in favor of some more climate-friendly material. 

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Trump and Paris - An Unexpected Outcome

Donald Trump's decision to pull out of the Paris agreement was a good thing, for the Paris process. Two concepts from economics and econometrics, the sunk cost fallacy and the counterfactual, can help us understand this counterintuitive impact. When comparing the outcome of the decision with the appropriate counterfactual, which acknowledges that the election of a climate change denier to the most powerful political office in the world is a sunk cost, it is hard to see how the U.S. leaving the Paris process is not a good thing for the process.

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