A new study has proven once and for all that climate change is bad for the global economy. Were temperatures to go up, the economy would grind to a halt.
The higher the heat levels, the worse off would the economy be on a worldwide level. In fact, climate change could cause up to 10 times as much damage to the global economy as it was previously thought to do so.
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Towards the year 2100, if the current trends are not changed, the results will be dire indeed. A 23% reduction in the efficiency of the economy would occur thanks to this change brought about due to the interventionist nature of man.
A new research project from Stanford and Berkley proved this without a shadow of a doubt. If we look at 166 countries starting from the 60s and ending in 2010 we get a pretty clear picture of the scenario.
There is an optimum of temperature that is needed for productivity of crops. And it is 55 degrees Fahrenheit. This happens to be the average mean temperature of the San Francisco Bay Area. The nations in the tropical regions are more likely to face the music since they already have higher temperatures.
And even countries that have slightly higher temperatures than this might be up against the wall. The US, China and Japan are included in this marginal list. Meanwhile, the countries towards the north will be seeing good times since agricultural and industrial opportunities will increase thanks to the influx of a warm current into the atmosphere.
But it would be a raw deal. That is because even if balmy weather is the lot of the Scandinavian countries, they wouldn’t have many other countries to exchange resources with.
There is also the issue of extreme weather conditions in the northern countries due to the changes that will take place. The biggest hurdle that stands in the way of progress is that we only have one earth in which to live and spend our lives.
We have nowhere else to reach out to for succour. So the earth’s future is our future. Gobal warming will have to be curbed via stringent environmental measures. If the current scenario is extended on the timeline, the world is in for quite a rude shock as entire species undergo extinction due to rising temperatures.
This is not a pretty picture we get of the so-called utopian future. The scientists’ models predict trouble ahead unless we are very careful. It is thus better to act now than to be sorry later on.
This new study published Wednesday in the journal Nature.