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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (79082)

10/3/2017 10:50:09 AM

From: Brumar89

Respond to of 86355

Ultimately, arguments on behalf of climate alarmism rely on appeals to scientific authority. We should remember that scientific authority isn't infallible at all.

Remember Long Term Capital Management. This hedge fund was founded on the authority of the best minds in finance. Members of LTCM's board of directors included Myron S. Scholes and Robert C. Merton, who shared the 1997 Nobel Memorial Prize in Economic Sciences.

Three of the LTCM partners:

Robert C. Merton	Leading scholar in finance; Ph.D., Massachusetts Institute of Technology; Professor at Harvard University
Myron S. Scholes	Co-author of Black–Scholes model; Ph.D., University of Chicago; Professor at Stanford University
David W. Mullins Jr.	Vice chairman of the Federal Reserve; Ph.D. MIT; Professor at Harvard University; was seen as potential successor to Alan Greenspan

LTCM had two good years and then blew up in the third year of operation, losing $4.6 billion in 1998.

If they say we have the best minds telling us this is what we should do, we should NOT bet our future on those best minds.