12 economic truths about climate change

12 economic truths about climate change
Northwestern University professor Diane Schanzenbach. Credit: Northwestern University

Over the next 70 years, every state in the U.S. is expected to experience increasing temperatures, according to a new report on the economic facts of climate change, co-authored by Northwestern University professor Diane Schanzenbach, director of The Hamilton Project at the Brookings Institution.

The report, a joint effort by the Hamilton Project and the Energy Policy Institute at the University of Chicago, outlines 12 significant economic truths related to energy and , laying the groundwork for potential policy solutions.

Among the findings:

  • The U.S. possess ample affordable energy
  • Much of the U.S. infrastructure is vulnerable to change
  • The prices we pay for fossil fuels do not reflect their social costs
  • Public investment in energy research and design remains well below 1970s and 1980s levels
  • Investments in would greatly lower the burden of climate change

"Given the immense threat that climate change represents, it is crucial that policy makers implement efficient solutions that minimize climate damages from our use of energy," the authors wrote.


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More information: Twelve Economic Facts on Energy and Climate Change: www.brookings.edu/research/twe … -and-climate-change/
Citation: 12 economic truths about climate change (2017, April 5) retrieved 23 September 2019 from https://phys.org/news/2017-04-economic-truths-climate.html
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Apr 05, 2017
"Give the Collective all your treasure and liberty, and after 80% of the proletariat who "volunteered" to be eliminated have been disposed of, we, your most wise elders of the nomemklatura, will prevent all the bad thing our computer models "proved" would happen. You will be required to be extremely grateful."

Apr 05, 2017
"Give the Collective all your treasure and liberty, and after 80% of the proletariat who "volunteered" to be eliminated have been disposed of, we, your most wise elders of the nomemklatura, will prevent all the bad thing our computer models "proved" would happen. You will be required to be extremely grateful."

Fecal regurgitation. What a filthy addiction.

Apr 05, 2017
"Give the Collective all your treasure and liberty,

Did you even read the article? One of the points is that we currently give away a lot of money in the form of tax cuts to fossil fuel companies. in addition you're spending a lot on healtcare due to the effects of fossil fuels on people...as well as the tax dollars you'll be shelling out to farmers hit by drought and the forced labor/taxation needed to mitigate sea level risse to all the coatsal cities and aquifers.
Renewables let you KEEP your money.

But if you love spending taxes. Fine. Be that way. Keep spedning through the nose while the rest of the world spend s the saved taxes on fun stuff.

Apr 06, 2017
I fear these finding may be simply completely ignored by most policy makers because I fear most policy makers may be STUPID; we shall see.

Apr 06, 2017
I fear most policy makers may be STUPID

Policy makers are humans that act in their own interest, viz:
- get reelected (in the short term)
- get rich (in the short term. Note how no really poor or average salary people are ever elected into any policy making office?)

There's absolutely nothing in acting on climate change that would further this agenda.
So I don't think they are stupid. The voter is stupid for electing them and believing they#d actually act in the (long term) interest of the people.


Apr 06, 2017
-then it is the voters that are stupid (and sometimes bad) and the policy makers are bad (and sometimes stupid).

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