
For the Economy, Climate Risks Are No Longer Theoretical - Bostonian
https://www.wsj.com/articles/for-the-economy-climate-risks-are-no-longer-theoretical-11579174209
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Bostonian
I don't think climate risks justify drastic measures such as phasing out the
use of fossil fuels. Quoting the article:

"[W]hile estimates of climate’s economic impact are suffused with uncertainty,
they don’t suggest any major economy will be pushed into recession, much less
depression.

Studies reviewed by David Mackie of JPMorgan Chase suggest climate change
could reduce global gross domestic product by 1% to 7% by 2100, assuming
“business as usual” (i.e., absent policies to mitigate emissions of carbon
dioxide). Given that the impact is spread out over 80 years, in which per
capita incomes probably rise 300% to 400%, even larger climate change impacts
would appear small, he said.

Aggregate changes in GDP, though, can be misleading. As global temperatures
climb, the probability of extreme temperatures and events and the associated
economic consequences should rise more."

