The Economist - UK - 09.14.2019

20 The EconomistSeptember 14th 2019

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Letters

Rising sea levels

“Higher tide” (August 17th)

shone a light on the serious

threat that climate change

poses to the world’s coastal

communities. Existing efforts

to reduce carbon emissions

and limit average temperature

increases are insufficient.

Climate mitigation must also

be met with climate

adaptation.

Fostering resilience to the

effects of climate change not

only meets a compelling

humanitarian obligation, but

also makes economic sense.

For example, mangrove forests

are one of the most effective

tools to shield the world’s

poorest coastal communities

from rising sea levels. Each

year these forests protect 18m

people from coastal flooding

and prevent more than $80bn

in damages. The benefits of

mangrove preservation and

restoration are up to ten times

the costs.

But rising sea levels are just

one symptom of climate

change. Its effects touch upon

every aspect of our lives. In

advance of theunClimate

Action Summit in New York,

the Global Commission on

Adaptation has just published

its landmark report offering

practical solutions to guide

countries on how to adapt to

the effects of climate change.

This is a live issue and the

quicker we act to adapt the

greater the dividends.

prof. patrick verkooijen

Chief executive

Global Centre on Adaptation

Rotterdam

Things fall apart (eventually)

The most compelling explana-

tion for the rise of today’s

populism (“Democracy’s ene-

my within”, August 31st) can be

found in the sociological study

of structural-demographic

theory. In the “Ages of Discord”,

Peter Turchin described how

America is going through a

“disintegrative phase”, last

seen in the 1860s. In this phase,

political fragmentation grows,

social democracy declines,

elites take greater economic

and political power (and seek

more positions than the coun-

try offers), workers suffer from

stagnant wages and inequality,

authoritarianism grows, and

the state is headed toward

fiscal crisis. Mr Turchin’s book

fully explains the dynamic

factors at work and is sup-

ported by much empirical data.

You actually described the

disintegrative phase without

recognising it for what it is.

This phase may not be the end

of some democracies (or

democracy in general), but as

Mr Turchin says, there is no

guarantee a country will

survive it.

paul mcvinney

Accokeek, Maryland

America’s property market

Comparing the American

residential real-estate market

with other countries, as you

did in “Sellers beware” (August

31st), is an apples-to-oranges

comparison. The market in

America surpasses other coun-

tries and encourages home-

ownership among first-time

and low-income buyers, be-

cause these people generally

do not have to add a commis-

sion to the amount they are

already paying to the seller.

Moreover, because of the

Multiple Listing Service sys-

tem, which lists all properties

for sale in one place, we are

seeing unprecedented compe-

tition among brokers, especial-

ly when it comes to service and

commissions. Brokers offer

varying commission models,

flat fees and fee for service. A

large majority of sellers choose

to use a broker, demonstrating

that they value the services

that brokers offer and that fees

are competitive. 

Furthermore, characteris-

ing brokers as “middlemen”

ignores the incredibly valuable

services they provide. Research

has shown that while many

buyers begin their home

search online, they soon turn

to the assistance of a trusted

real-estate agent to guide them

through this infrequent, com-

plex, significant transaction.

Even though there is a volumi-

nous amount of information

available to them, buyers value

a qualified, local buyer broker

to help them sift through this

information, advise them and

perform many other functions

essential to the buying process.

john smaby

President

National Association of

Realtors

Washington, DC

Arms and Taiwan

So China “never tires of

reminding America that in 1982

it promised to reduce arms

sales to Taiwan” (“Tsai’s prize”,

August 24th). Rather, it is time

for America to remind the

Chinese government that

promises are not a one-way

street. Ronald Reagan was

crystal clear on the issue in a

note to the National Security

Council: America’s “willing-

ness to reduce its arms sales to

Taiwan is conditioned

absolutely upon the continued

commitment of China to the

peaceful solution” of their

differences. Given that Taiwan

does not threaten to invade

China but China continually

threatens to invade Taiwan,

there can be no question that

America should continue

buttressing Taiwan’s defence

capabilities.

daniel martin schulz

Hamburg

India’s record

Your article on the Indian

government’s effort to revive

the economy overlooked the

fruits of incremental improve-

ments (“Meagre fare”, August

31st). Since 2014 India has

moved up 57 places to 77 in the

World Bank’s ease of doing

business index. Endemic

corruption has been reduced.

In the year to March India

attracted a record $64.4bn in

foreign direct investment.

Big steps have been made in

the banking system to deal

with bad loans. Inflation is

tamed and the central bank has

room to manoeuvre on mone-

tary policy. You mentioned a

decrease in spending on bis-

cuits. A more telling tale is how

access to the internet is surg-

ing because Indians can buy

data on their mobile phones

cheaper then virtually

anywhere else in the world.

Mr Modi is doing what is

needed to sustain low

inflationary growth.

david cornell

Chief investment officer

Ocean Dial am

Mumbai

Binning the continental

May I suggest you use the

occasion of Brexit finally to

ban the term “continental

Europe” (Charlemagne, August

17th). Why place this tediously

generalising adjective before

the name of a vast continent

with a few islands on the

periphery? This custom of

dividing Europe into Britons

and continentals, as if they are

somehow equal in numbers or

diversity, reflects the same

British-centrism and delu-

sions of grandeur that motivat-

ed one class of Brexit suppor-

ters. But wait, maybe after

Brexit the term continental

becomes redundant anyway

because there will be just

Britain and Europe.

gunnar niels

Oxford

In a meme state

Bagehot described Jacob Rees-

Mogg as “lying prone across

the Commons benches” (Sep-

tember 7th). He was actually

lying supine. If depicted prone

Mr Rees-Mogg might make an

even better election poster for

the opposition.

hubert de castella

London