It’s always refreshing to read a well thought out review of an essential public policy matter that has become somewhat derailed by powerful self interests which ­­­—surprise, surprise — want nothing to come between them and the raw pursuit of money. In a 10-page article in The New York Times Magazine, published 11 April, Paul Krugman argues that a green economy that drastically reduces greenhouse gas emissions can and should be built — now.

Krugman, an NYT columnist, professor at Princeton and the winner of the 2008 Nobel Prize in Economics, writes that the risk of planetary catastrophe from global warming requires a strong and almost immediate climate policy. In his article, called Green Economics: How We Can Afford To Tackle Climate Change, Krugman notes that climate scientists suggest society has to wean itself off coal and other fossil fuels in order to avoid an apocalypse caused by soaring temperatures.

“The truth is that there is no credible research suggesting that taking strong action on climate change is beyond the economy’s capacity,” Krugman says, adding that if the US and Europe got serious about dealing with global warming the rest of the world would likely join in the effort.

Reviewing scientific and economic literature, he makes the case for dealing aggressively with climate change now by pointing out that some data suggests unchecked global warming could lower gross world product by 5% in 2100, whereas stopping it might cost only 2%.

“We know how to limit greenhouse gas emissions. We have a good sense of the costs — and they’re manageable. All we need now is the political will,” concludes Krugman.

His persuasive, methodical argument is a welcome tonic — especially after climate change sceptics have increased their influence since Copenhagen and the leaked (or hacked) e-mails scandal — and it will no doubt be well received by people attending this month’s European Wind Energy Conference in Warsaw.