W. Nordhaus

One economist observes that very few of the developed world’s economies depend upon weather. He asserts that “Careful cost-benefit analysis, not panicky eco-action, is the right answer. The impacts of climate change on developed countries are likely to be small, probably amounting to less than 1% of national income over the next half-century.” Small and poor countries with large agricultural sectors are particularly vulnerable.

Less myopic scientists observe that all economies depend upon food and climate, regardless of where their particular money-making activities center.

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