Historically, the term settled science has often been used to stifle dissent. By intimidating scientists and others who beg to differ, the proponents of a particular theory create the narrative that theirs is the only explanation and therefore must be true. Science is rarely, if ever, settled. Scientific findings rely on a stream of evidence, with hypotheses routinely questioned, tested, refined and retested.
The peer review process is central to improving scientific understanding. It involves scientists (peers) evaluating other scientists’ work. The aim is to ensure that the work is robust, logical, uses past research and adds to what we already know.
While climate change has been the dominant environmental concern of the 21st century, alarming theories and projections have been around for centuries. Remember that, at one time, conventional wisdom (settled science?) held that the earth was flat. Our blog, dated May 5, 2014, “Alarmists, Deniers and Investors,” commented on some of these and the implications for investors.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA
