Saturday, April 12, 2014

What Climate Change Means in Dollars and Cents


How badly will global warming hurt the world economy? The answer in yesterday's new report by the Intergovernmental Panel on Climate Change is clear. Depending on the assumptions, er… uh, carry the four… add the pure rate of time preference… hmmmm, we can't say without caveats.

"Different economies will be affected differently," the report states.

Even if there was an aggregate number that economists and scientists stood behind without hemming and hawing, it wouldn’t be practical. Companies and governments couldn’t just take a global GDP loss projection and plug it into their planning curves and cost-benefit analyses. (There is a number in the report, but hemming and hawing about it, too.)

See full Article: http://www.bloomberg.com/news/2014-04-01/the-scientists-don-t-really-know-the-effect-of-climate-on-gdp-and-that-s-okay.html