Dr Plokta (drplokta) wrote,
Dr Plokta
drplokta

Global Warming Revisited

There's more on the Stern Review here. He's still not talking about major consequences from global warming -- a mere 5% to 20% one-off GDP hit by 2100, equivalent to the economy in 2100 being the size it would have been some time between 2090 and 2097 without global warming. But it's clarified that his 1% of GDP cost to fight global warming is also a one-off, in which case it makes obvious sense to make the minuscule sacrifice of 1% of GDP growth in order to prevent the relatively small 5% to 20% of GDP costs of global warming. 1% by 2050 is about 0.02% per year, so we're talking about the UK sacrificing only about £200 million per year of economic growth, or around 1% of expected growth rates of 2% per year.
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