|Paul Wheelhouse MSP|
Although as a media event it initially carried all before it creating an aura of academic substance, (or at least economic competence), in its role as a driver for the Climate Change Acts, it had mixed reviews from economists from soon after its publication.
Now, six years later, a further critique expands on the early criticisms. Richard Tol, Professor of Economics at the University of Sussex says this of Stern in his foreword to What is Wrong with Stern?:
"The Stern Review was a tactical masterstroke, but it will likely prove a strategic blunder. Its academic value is zero."Professor Tol is one of the authors of the IPCC Fourth Assessment Report published in 2007.
This raises some uncomfortable questions about the economic credibility of Scotland's 'groundbreaking' Climate Change Act. A headache for our new minister for Environment and Climate Change?