ProfSteveKeen | Rethink Climate Change's Economic Impact @ProfSteveKeen | Uploaded September 2024 | Updated October 2024, 3 hours ago.
Mainstream economists believe climate change will have a trivial impact on the economy.
This is a common misconception.
It’s like saying a small leak in a dam won’t matter because the water level is still low.
But what happens when that leak becomes a flood?
A 10°C rise in temperature would submerge Florida.
It would devastate agriculture worldwide.
Ignoring these facts is like ignoring a fire in a crowded theater.
You might think it’s just a small flame.
But that flame can quickly turn into an inferno.
We need to rethink our economic models.
Current models treat climate change as a minor inconvenience.
This is absurd because they fail to account for the real dangers.
Imagine a world where crops fail.
Where cities are underwater.
The economic fallout would be catastrophic.
It’s not just about GDP numbers.
It’s about livelihoods, food security, and survival.
When economists say a 5% drop in GDP is negligible, they miss the point.
That drop could mean millions of people losing their homes.
It could mean food shortages and rising prices.
The reality is that climate change is a ticking time bomb.
If we don’t act, we’ll face consequences far worse than any recession.
We must integrate climate risks into our economic models.
Because ignoring them is like driving blindfolded.
Eventually, you will crash.
Our future depends on recognizing the severity of climate change.
Let’s not wait until it’s too late.
The time to act is now.
Mainstream economists believe climate change will have a trivial impact on the economy.
This is a common misconception.
It’s like saying a small leak in a dam won’t matter because the water level is still low.
But what happens when that leak becomes a flood?
A 10°C rise in temperature would submerge Florida.
It would devastate agriculture worldwide.
Ignoring these facts is like ignoring a fire in a crowded theater.
You might think it’s just a small flame.
But that flame can quickly turn into an inferno.
We need to rethink our economic models.
Current models treat climate change as a minor inconvenience.
This is absurd because they fail to account for the real dangers.
Imagine a world where crops fail.
Where cities are underwater.
The economic fallout would be catastrophic.
It’s not just about GDP numbers.
It’s about livelihoods, food security, and survival.
When economists say a 5% drop in GDP is negligible, they miss the point.
That drop could mean millions of people losing their homes.
It could mean food shortages and rising prices.
The reality is that climate change is a ticking time bomb.
If we don’t act, we’ll face consequences far worse than any recession.
We must integrate climate risks into our economic models.
Because ignoring them is like driving blindfolded.
Eventually, you will crash.
Our future depends on recognizing the severity of climate change.
Let’s not wait until it’s too late.
The time to act is now.
