If you don't believe me, read this line:
It is time for the Swedes to give a [Nobel] prize in environmental economics.
See, I told you he said it. If you think I wrote that line instead of cutting and pasting, here is a link to the original essay at Economic Principals: Extreme Arithmatic.
Keep reading, nimrod:
The survey method known as “contingent valuation,” which had been proposed by S.V. Ciriacy-Wantrup as long ago as 1947, came to be commonly employed to establish values for non-market goods.
Junk Science? My ass. [Rage ... taking over....]
And here is the last line:
But the Swedes should do the world a favor and award the economics prize to the environmental economists who have created the tools to talk meaningfully about taking precautionary action in uncertain circumstances, before the physical science can be nailed down.
