Economics, Cost of Affecting Climate Change

Richard Milton Edwards

THE MAJOR PROBLEM with determining the economics of affecting climate change is the number of variables involved and the inability, even using advanced modeling theories, to accurately project these variables for more than a few years. Projecting the economic costs of doing nothing to combat climate change, or the costs of attempting to do something, are hampered not only by understanding the effects of the climate change on national, regional, noindent and global economies, but also by the infinite variables that must be incorporated into the economic models. These variables are contingent on the infinite variables incorporated into the currently evolving and competing climate change models. Even if the climate change model of the United Nations Environment Programme (UNEP)/World Meteorological Organization (WMO) Intergovernmental Panel on Climate Change (IPCC) is the accepted model, the IPCC model itself is evolving at such a rapid rate that any economic projections based on it ...

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