What is the effect of global warming on the economy?

Question

What is the effect of global warming on the economy?

Answer 1

Well, no one knows.  If you want some guesses, here they are:

1. Northern countries like the US, Canada, Russia, Northern Europe make out big time.  Less money spent to heat, longer growing seasons, more land opened to agriculture.

2. Rest of the third world ... not much different from the current toilet they are living in.

So on balance, very positive for the world's economies that count.

Answer 2

Global warming has no effect

Answer 3

For a full and properly researched answer see the Stern report by the UK governmant

http://www.hm-treasury.gov.uk/independen...

Summary -

There is still time to avoid the worst impacts of climate change, if we take

strong action now.

The scientific evidence is now overwhelming: climate change is a serious global

threat, and it demands an urgent global response.

This Review has assessed a wide range of evidence on the impacts of climate

change and on the economic costs, and has used a number of different techniques to

assess costs and risks. From all of these perspectives, the evidence gathered by the

Review leads to a simple conclusion: the benefits of strong and early action far

outweigh the economic costs of not acting.

Climate change will affect the basic elements of life for people around the world –

access to water, food production, health, and the environment. Hundreds of millions

of people could suffer hunger, water shortages and coastal flooding as the world

warms.

Using the results from formal economic models, the Review estimates that if we don’t

act, the overall costs and risks of climate change will be equivalent to losing at least

5% of global GDP each year, now and forever. If a wider range of risks and impacts

is taken into account, the estimates of damage could rise to 20% of GDP or more.

In contrast, the costs of action – reducing greenhouse gas emissions to avoid the

worst impacts of climate change – can be limited to around 1% of global GDP each

year.

The investment that takes place in the next 10-20 years will have a profound effect

on the climate in the second half of this century and in the next. Our actions now and

over the coming decades could create risks of major disruption to economic and

social activity, on a scale similar to those associated with the great wars and the

economic depression of the first half of the 20th century. And it will be difficult or

impossible to reverse these changes.

So prompt and strong action is clearly warranted. Because climate change is a

global problem, the response to it must be international. It must be based on a

shared vision of long-term goals and agreement on frameworks that will accelerate

action over the next decade, and it must build on mutually reinforcing approaches at

national, regional and international level.

Climate change could have very serious impacts on growth and development.

Answer 4

So called "global warming" is not going to have any impact on the economy.

Two things that will have an impact are political views that prevent us from getting our own oil and an increase of taxes with will take more money out of our pockets and raise the price of all goods.

Remember even the staunce global warming believer will tell you that the climate tempertures are increasing at just 0.05 degrees per year.  This is too small to have any impact.

Answer 5

nothing, no such thing as global warming caused by humans its just everything has a life span and so does planets. plain and simple.

Answer 6

well it's been proven that during warmer periods of earths history [excluding the 1930s] the economy prospers. but it appears this century may be like the 30s again do to warming of the planet, raising of gas prices,trying to completely change the worlds energy source, causing much stock values too slide down hill we may be looking at a crash. especially the gas prices making many stocks worthless as we've seen with Dow Jones slowly crashing.. a rescission is the most likely affect

Answer 7

Global warming has no effect it is not real. But the belief in global warming is causing a lot of damage to the economy. Evironmentalist wackos through the Dems wont let us drill for oil, build refineries or develop clean coal technologies. Also we are burning food for fuel driving up food costs. Soon if the wackos have their way our taxes will increase and the government will have more control over our lives because of this global warming scam. It does not have to be real if enough people are fooled.

Answer 8

Cold in the summer, warm in the winter, rains when its not supposed to, snows in the summer, high carbon dioxide and monoxide levels, sudden temperature changes, the greenhouse effect.

Basically, bad, and it WILL GET WORSE if fossil fuels are kept being burnt. Thank heavens battery and solar powered cars will be out by 2010. :))))))))))))))))))) xx

Answer 9

I'm no ecomomist or ecologist but i'll give it a go.

Here in the UK we can expect more floods so paying for repairs after a flood will damage businesses, then insurance premiums will rise and rise, businesses wont be able to afford insurance.  The next flood will wipe them out.

If the UK does suffer from rising sea levels and land is lost then prices of land and property will rise dramatically (probably double, triple or much much more), forcing a huge recession like no one has ever know.