Economic costs of climate change

One problem with climate change is that there are many feedback effects that can increase the rate at which warming occurs.  Via Public Goods, a new paper by Eba Goodstein tries to estimate the economic costs of increased warming due to the feedback effects associated with the melting of ice in the Arctic.  Goodstein predicts an increased cost of between $2.4 and $24 trillion by 2050.  This is a pretty wide band, but it is further evidence that when people talk about reluctance to curb emissions because of the high economic costs involved, they are really arguing for a transfer of wealth from the people who will be effected by the warming to those emitting the pollution.  The economic costs will be large either way.

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