In a foreword to Lilley's splendid study, the esteemed resource economist Richard Tol concludes that the Stern Review's "academic value is zero". On the other hand, its political value is high. It is therefore understandable that Stern was rewarded for doing the government's dirty work.

It is not surprising that global warming alarmists and those who hope to profit from providing government-mandated, higher-priced energy continue to lionise Stern. An astonishing number of academic institutions have behaved shamefully in conferring honours and positions on Stern. Might they have done so because they are beholden to government for nearly all their funding and therefore toady to it in hope of getting more?       

As rising energy costs make poor people poorer and as the British economy continues to decline as a result of disastrous policies pursued in order to slash Britain's greenhouse gas emissions (which comprise 2 per cent of the global total), Lord Stern will have a lot to answer for. But so too will those academics who have gone along to get along.