Global Warming?

Question

-What kind of economic questions arise from mitigating global warming?
-Both to the individual and society.
-Any help is appreciated.

Answer 1

Economic consequences of any event or action are always best thought of as resource reallocations. With respect to mitigating global warming, it depends on the method used. Most reasonable proposals to reduce global temperatures (or slow their increase) are based on a reduction in GHG output. This entails (directly through taxes or indirectly through regulation) increasing the price of carbon based fuel sources. So, the economic consequences will be a shift of resources away from industries that use carbon intensively and towards industries that don't. So, costs will be born by those individuals who work for or invest in those areas of the economy where resources will be diverted from.

We must also count among the costs of mitigation the "opportunity costs" of such an action. That is, some geographic areas will no doubt benefit from higher temperatures (take Canada or Russia, for example) and experience higher agricultural output, greater forest growth, and higher land values in general where cold temperatures prevent development. So, mitigating global warming must count the prevention of these benefits as costs as well.

Answer 2

I am not sure about mitigating global warming questions, but I have realized the warm tempuratures lately. I live in NJ and when it gets warm outside, almost every guy outside is shirtless(espechially male teens). This is how New Jerseyian guys adapt to the heat, in our state. I have been shirtless for hours, by dealing with the heat. This shows how we adapt to such weather.

Answer 3

it will reduce growth if curbed through taxation on businesses. If you look at China and US, two most polluting countries, you would expect a deceleration of growth and an increase in social ills, such as unemployment. But there is an alternative: technology to reduce pollution.

Answer 4

IF GLOBAL WARMING BECOMES A BIG PROBLEM, MANY WILL SUFFER GREATLY.
PRODUCTIVE, INTELLIGENT INDIVIDUALS WILL DEAL WITH IT BY CHANGING THEIR LOCATION, ENVIRONMENT, TECHNOLOGIES ARCHITECTURE ETC. TO SURVIVE WELL.
SOME WILL SEE IT AS AN OPPORTUNITY TO CREATE ENTIRE NEW INDUSTRIES AND BECOME WEALTHY.
IT'S THE AMERICAN WAY!

Answer 5

http://globalwarming.net/