Climate change is going to be expensive- for everybody
Wired - 10/21/2015
Some argue that the first world will buffer itself against climate change with technological innovations—air conditioning is credited with saving the American South’s economy, and agricultural companies are already breeding heat resistant crops. But historically—and based on this analysis—that hasn’t been and won’t be true. “If you look back to the 1960s to now, any subset of time between now and then shows a consistent pattern of temperature correlating to GDP,” says Matthias Ruth, economist at Northeastern University. Which means that so far, innovation hasn’t done squat. “And as climate continues to change, keeping pace becomes more difficult, and we will fall ever more behind,” says Ruth.