How climate change will affect world economies
A new study from scientists and economists at Stanford and Berkeley has taken a stab at determining how climate change will affect the world’s economic activity. As part of their study, they look at which countries might benefit from climate change and which might lose out. As you might expect, countries in the Northern Hemisphere with cooler climates stand to benefit while the rest of the world will not. Here are some of the projected big winners (the Nordic countries) and losers (the Middle East):
Mongolia +1413%
Finland +516%
Iceland +513%
Russia +419%
Estonia +259%
Saudi Arabia -96%
Kuwait -96%
Oman -94%
United Arab Emirates -94%
Iraq -93%
Canada (+247%) is another one of the potential big winners while the US (-36%) stands to lose out…along with all of Africa, South America, India, and China. This quote by one of the study’s lead authors, really grabbed me by the throat:
What climate change is doing is basically devaluing all the real estate south of the United States and making the whole planet less productive. Climate change is essentially a massive transfer of value from the hot parts of the world to the cooler parts of the world. This is like taking from the poor and giving to the rich.
Among other many things, anthropogenic climate change is an issue of discrimination.1 Rich, predominantly white countries caused the problem and can do the most to limit the damage, but climate change will disproportionately affect poor countries, poor people (even in rich countries), women, and people of color. The rich need to do something about it so that the poor will not suffer. The problem is, the world’s wealthy have a long history of not being incentivized to help anyone but themselves. I hope this will turn out differently…or, as sometimes happens, the desires of the wealthy and the needs of the poor dovetail into action of joint benefit.
In fact, with no offense to those who rightly rail against causes of discrimination around the world, I would go so far to say that this is by far the largest and most important discriminatory issue the world faces today. Climate change will permanently remake the entire world and its economy, and the poor, women, and people of color stand to lose huge.↩
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