In this discussion paper Clive Spash of the University of Economics and Business in Vienna critiques the much publicised document released in September: "Better Growth, Better Climate: The New Climate Economy Report" . This report, in which Lord Nicholas Stern was a leading author, is the elite perspective on climate change - that of the most senior politicians, bankers and financiers. The report is a call for continued growth and, as Spash shows, it is deeply flawed theoretically.