Climate Social

Australia is a wealthy nation with the economic profile of a developing country - heavy on raw materials and low on innovation and skilled manufacturing. Once we rode on the sheep’s back for our overseas trade; today we rely on cartloads of coal and tankers of LNG. So must we double down on fossil fuels, now that COVID-19 has halted the flow of international students and tourists? Or is there a better way forward, which supports renewable energy and local manufacturing?

Averting Catastrophe explores how governments ought to make decisions in times of imminent disaster. Cass R. Sunstein argues that using the "maximin rule", which calls for choosing the approach that eliminates the worst of the worst-case scenarios, may be necessary when public officials lack important information and when the worst-case scenario is too disastrous to contemplate. He underscores this argument by emphasizing the reality of "Knightian uncertainty", found in circumstances in which it is not possible to assign probabilities to various outcomes.