Ambitious Climate Change Policies Cost Effective
A new study in the Proceedings of the National Academy of Sciences finds that “spending money now to keep climate change in check [ark | moreark] makes sense as it will save us money in the long run.” Researchers at the University of Wageningen in the Netherlands found that past a minimum threshold, every extra dollar spent increases the chance of success by the same amount. The report proposes ambitious spending of 2 percent of global GDP [ark] to mitigate against threats posed by climate change.
Why is it that economists always quote cost/benefit analysis when pursuing development that destroys the atmosphere and other ecosystems, but they and politicians resist such analysis when the message is to stop burning fossil fuels and logging ancient forests because it makes economic sense to do so? Good luck with the economy when abrupt climate change causes the atmosphere to fail [search].