But if Svensmark was correct, it would mean that periods of high solar output should coincide with reduced cloud formation (due to reduced cosmic ray incidence), which in turn would have a warming effect on the Earth, since less sunlight would be reflected back into space by clouds.

FORBES: Did CLOUD Just Rain on the Global Warming Parade?

To explain the graph a bit more clearly, the X axis is months and years, while the Y axis is the volume of industrial activity as a percentage of the average monthly output of 2009 (which, it should be noted, was depressed as a result of the global financial crisis).

FORBES: Russian Industrial Production Increases by 4% over 1st Quarter 2011

But at a time of mass unemployment, it looks like a pretty good tradeoff that should raise per capita output and average incomes.

FORBES: Why Borrow Now, Tax Later Is A Bad Idea

First, it misplaces emphasis on green jobs, when the focus of GGS should be on green output.

FORBES: Goodbye To Green Jobs, You Won't Be Missed

One of those implications: Given the emerging regulatory response to global warming, all businesses should get their ducks in a row now when it comes to keeping track of their output of carbon dioxide and other gases blamed for climate change.

FORBES: Carbon Emissions: The Next Sarbox

But that is a lame excuse: it should be much easier to count bodies than to put a value on diverse sorts of economic output.

ECONOMIST: Economics focus