Economics effects of Global Warming

Global Warming is happening - but is it having a negative economic consequence? Dr Lomborg's website has some very interesting views about the need to tackle climate change

To paraphrase Dr Lomborg he suggests that short-term Global Warming is good for the economy as it reduces the need for domestic heating and the higher temperatures will push crop yields up. The cost is the need to use the air conditioning more. In fact the short-term impact of moderate warming (1-2C) will be beneficial. It is only in the long-term year 2070 that Global Warming will have a negative impact on GDP.

You will need access to the Sunday Times for the full article, but the 76 comments on the article make very interesting reading, for example the huge subsidy for fossil fuels.

http://www.thesundaytimes.co.uk/sto/newsreview/features/article1237909.ece

http://www.lomborg.com/