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Because first there’s M0 inflation to take out, and then it’s well known that claims inflate for the same damage over time, and courts award bigger damages and
by bfieidhbrjr 7y ago
Because first there’s M0 inflation to take out, and then it’s well known that claims inflate for the same damage over time, and courts award bigger damages and so on.
Dollars are a problematic way to measure it.
- simonh 7y agoThey're a problematic way to measure anything, but often they're the best we've got, especially when what we're measuring is economic costs.
- mytailorisrich 7y agoIt depends on what we want to measure and for what reason. Here I expect this time series will be used to illustrate consequences of climate change without taking into account that the US' population has grown by 45% since 1980 and that the US' real GDP has grown by 171%, which makes this time series a poor proxy metric especially when there are direct metrics (e.g. number of hurricanes, etc. per year) available.
- nothrabannosir 7y agoThis sounds interesting and, to my amateur ears, at least worth considering. Is there any possibility of correcting for those factors? Would that satisfy as an indicator of climate change (or lack thereof)?
- matthewdgreen 7y agoThe fact that more people are building in climate-vulnerable areas is a very good thing to know about — and that’s the kind of data that this kind of series will highlight. If you want historical hurricane data I’m sure you can get that from NOAA. However, that kind of data won’t give you insight into the human impact of that weather in the same way this series does.
- deleted 7y ago[deleted]
- DarkmSparks 7y agonumber of billion dollar events per billion dollars real gdp should be easy enough to calculate once the page comes back online.
- texasbigdata 7y agoExcluding the "well known" claim, and passively agreeing on inflation, population density might increase underneath + (real) gdp growth per capita might occur underneath (+/-) we might be better or worse at surviving through various catastrophes now (think of wood only buildings in old huricanes). Kind of fascinating having to disentangle all the comingling elements.
- yourMadness 7y agoFor the evaluation of costs of prevention measures it is exactly the right way to measure it, isnt it? Prevention measure cost dollars are identical to catastrophe damage cost dollars.