I think the discussion of global warming has been seriously remiss. Those opposed to massive cuts in economic activity through programs such as “cap and trade” have argued that global warming is not real. But whether or not it is real, the debate should be refocused. First, there are possibilities for cheaper methods of limiting the harms from global warming, as discussed in Freakeconomics and in Cool It. More research on these approaches is the way to go. Second, while everyone emphasizes the costs, three are benefits as well. For example, today’s New York Times has a grudging article on opening up the Arctic to more transportation. There are also benefits from opening up more land for farming.