Climate Change Elucidated

Why do economists generally conclude that the economic impact of climate change is likely to be small, not large?…The growing literature on this topic suggests that most parts of the economy are not very vulnerable to climate change….Thus, while potential climate changes might be devastating to parts of the environment, most economists don’t think that it will affect our economic standard of l iving much, one way or the other….Climate change cannot staunch the global torrent of new discoveries, processes and products….If climate does change, crops can be modified, different crops can be planted and crops can be planted in different places, for example….

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