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The last time I checked, the IPCC ar4 report said that the effects of climate change would cost about 5% of GDP, starting in 2100. Some Wall Street Journal econ
by ddxxdd 7y ago
The last time I checked, the IPCC ar4 report said that the effects of climate change would cost about 5% of GDP, starting in 2100. Some Wall Street Journal economists ran the numbers and found that the net present value of those costs are about 0.1% of gross domestic product. So the power of economic growth and compounding interest means that overreacting to climate change is even more dangerous than climate change itself.
- gruturo 7y agoFine in theory. In practice we only get one planet, and trying to quantify whether taking care of it outweighs the loss of income of just letting the damage happen is not merely wrong, but outright terrifyingly inhuman. It goes even beyond the Tyler Durden (Fight Club) car recall speech, which I won't talk about for obvious reasons.
- orf 7y agoYeah, what if we make a better world by mistake!