• BastingChemina@slrpnk.net
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    1 year ago

    What ? Climate change is impacting negatively the economy ?

    No it’s not possible. Remember, 3°C of warming would only reduce the global GDP by 2.1%. (According to Nobel prize winner William Nordhaus)

    So please stop complaining, put a hat, pull your bootstrap and go back to the construction site. And try not to fall in the ground because you might get a third degree burn on the asphalt and we can’t afford a replacement since nobody want to work anymore.

    /s

    • silence7@slrpnk.netOPM
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      1 year ago

      The Nordhaus estimates were always known for having limited utility for large changes in temperatures.

      They assumed that damage to a sector wouldn’t matter much if it was currently a small part of the economy. For example, if agriculture was 2% of the US economy, and agricultural output went to zero, the result would be 2% damage to GDP. The real world doesn’t work that way though: people who are starving to death don’t work, so GDP would go to zero in that case.