Heat the Poor
Sunday, January 23rd, 2011There’s a really good article on “The Economics of Global Warming” in Newsweek:
The most likely consequences of climate change will be severe impacts on food production in the developing world. We can worry about urban heat waves, polar bears, and forest fires, but the worst effects are almost certainly going to be on food production in the poor countries, where half or more of the population depends on growing its own food.
Estimates of lost world product due to climate change are moderate because the poor have so little to lose. More than a billion people, maybe 2 billion, are estimated to live on less than the equivalent of $2 per day. If a billion of those poorest people lost half their income, it would be an overwhelming tragedy, a true catastrophe, worse than all the earthquakes, floods, tsunamis, landslides, and fires of the past decade happening every year. But those billion people together would lose only $365 billion per year. That is less than 1 percent of world income! They have so little to begin with that what they can lose doesn’t amount to much of a statistic. But they can lose tragically.
It’s not a long article, so click here to read the whole thing.