Economists Are Vastly Underestimating the Economic Impact of Climate Change

Economists are expecting a tiny reduction in GDP despite climate science suggesting far more dramatic consequences, according to a new study.

The Physics arXiv Blog iconThe Physics arXiv Blog
By The Physics arXiv Blog
Aug 26, 2021 8:18 PMAug 27, 2021 9:19 AM
Smoggy skyline- shutterstock
(Credit: okanozdemir/Shutterstock)

Newsletter

Sign up for our email newsletter for the latest science news
 

When it comes to the climate emergency, the scientific consensus is clear: human activity is heating Earth more rapidly now than at any point in the last 2,000 years. This is causing rapid, widespread changes to our oceans, our atmosphere and our biosphere.

The effects will continue for decades, possibly centuries, to come with dramatic increases in extreme weather events, such as heat waves, forest fires, hurricanes, flooding, ice melts and sea level rises. Indeed, this increase in extreme events is already upon us.

Parts of the planet are likely to become uninhabitable, where temperature increases will make it impossible to live or grow food. And that is likely to trigger patterns of migration with global consequences.

It’s easy to imagine that these changes will have a huge impact on the global economy and our ability to maintain the quality of life we enjoy today.

0 free articles left
Want More? Get unlimited access for as low as $1.99/month

Already a subscriber?

Register or Log In

0 free articlesSubscribe
Discover Magazine Logo
Want more?

Keep reading for as low as $1.99!

Subscribe

Already a subscriber?

Register or Log In

Stay Curious

Sign up for our weekly newsletter and unlock one more article for free.

 

View our Privacy Policy


Want more?
Keep reading for as low as $1.99!


Log In or Register

Already a subscriber?
Find my Subscription

More From Discover
Recommendations From Our Store
Stay Curious
Join
Our List

Sign up for our weekly science updates.

 
Subscribe
To The Magazine

Save up to 40% off the cover price when you subscribe to Discover magazine.

Copyright © 2024 Kalmbach Media Co.