Saturday, March 11, 2017

Trump and Investing in Remote Sensing

From economics professor Matthew Kahn:

"On the general topic of climate change adaptation, I believe that we must promote choice under "full information".  Given that climate change poses several "known unknowns" and given that information about such risks is a public good, government plays a unique role in supplying such information. I do hope that President Trump's team continues to invest in remote sensing so that for each piece of the U.S that we have real time information about emerging threats.  As predicted by the efficient markets hypothesis, such emerging "new news" will be capitalized into asset prices such as real estate and self interested individuals and firms will make many decisions regarding self protection and supply chains based on this information. In this sense, the government plays a key role in allowing the "invisible hand" to work its magic."

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