by Summary:
The assumption that climate change won't affect most of the economy is absurd. It’s like saying a ship can sail smoothly while ignoring a storm brewing on the horizon. Manufacturing relies on energy and raw materials, both highly climate-sensitive. Imagine trying to build a house with wet cement. Ignoring the effects of climate change is like ignoring the rain while constructing that house. It leads to gross underestimations of economic damage. When storms destroy supply chains, production halts. This isn’t just theoretical. In 2022, severe weather disrupted transportation in Canada, cutting Vancouver off from the rest of the country. That’s a real-world example of how climate impacts can ripple through the economy. We need realistic models that account for these
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Steve Keen considers the following as important:
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The assumption that climate change won't affect most of the economy is absurd. It’s like saying a ship can sail smoothly while ignoring a storm brewing on the horizon. Manufacturing relies on energy and raw materials, both highly climate-sensitive. Imagine trying to build a house with wet cement. Ignoring the effects of climate change is like ignoring the rain while constructing that house. It leads to gross underestimations of economic damage. When storms destroy supply chains, production halts. This isn’t just theoretical. In 2022, severe weather disrupted transportation in Canada, cutting Vancouver off from the rest of the country. That’s a real-world example of how climate impacts can ripple through the economy. We need realistic models that account for these
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| The assumption that climate change won't affect most of the economy is absurd. It’s like saying a ship can sail smoothly while ignoring a storm brewing on the horizon. Manufacturing relies on energy and raw materials, both highly climate-sensitive. Imagine trying to build a house with wet cement. Ignoring the effects of climate change is like ignoring the rain while constructing that house. It leads to gross underestimations of economic damage. When storms destroy supply chains, production halts. This isn’t just theoretical. In 2022, severe weather disrupted transportation in Canada, cutting Vancouver off from the rest of the country. That’s a real-world example of how climate impacts can ripple through the economy. We need realistic models that account for these critical factors. Relying on outdated economic models is like using a paper map in a world of GPS. It’s inefficient and dangerous. The economy is interconnected, like a web. If one strand snaps, the entire structure can collapse. Ignoring climate change is like ignoring a spider weaving its web. Eventually, the web will break. We must adapt our economic thinking to reflect the reality of climate change. Otherwise, we risk building a fragile economy that can’t withstand the storms ahead. The stakes are high. The future of our economy depends on acknowledging and addressing these challenges. Let’s not wait until the storm hits. It’s time to act before it’s too late. |