Economic Impacts of Global Warming
A Reality and NOT a Hoax
The issues involved in understanding global warming and taking policies to slow its harmful impacts are the majorenvironmental challenge of the modern age. Global warming poses a unique mix of problems that arise from the factthat global warming is a global public good, is likely to be costly to slow or prevent, has daunting scientific andeconomic uncertainties, and casts a shadow over the globe for decades, perhaps even centuries to come.
Global Warming is rising temperatures on Earth‘s surface.
Everything you buy or do someone must have pollutedin order to make it. The Greenhouse effect is one of the major causes of Global Warming. Greenhouse gasesnaturally cover the Earth and keep it about 33 degrees Celsius warmer than it would be without those gases in theatmosphere. Greenhouse effect is heating of the Earth due to pressure of greenhouse gases. The gases that make upthis are: Fluorocarbons 5%, methane 13%, Nitrous Oxide 6%, and Carbon Dioxide 76%.It is said Global Warming will affect our economy. After finding information on this huge topic we have found thatthe CO
concentration in the atmosphere causes growth of plants to increase in a major fashion. This does causeplants like corn and beans to grow very big causing farmers to have an abnormal growing season. This will still causethe need for more food all around the world. The rising of cost production due to this food will result in pricesrising. This growing of plants could also cause productivity losses. This is because insects have more to feed on,severe drought, and scarcity for water could happen due to all these plants. The challenge of coping with global warming is particularly difficult because it has spans many disciplines and partsof society. Ecologists may see it as a threat to ecosystems, marine biologists as a problem arising from oceanacidification, utilities as a debit to their balance sheets, and coal miners as an existential threat to their livelihood.Businesses may view global warming as either an opportunity or a hazard, politicians as a great issue as long as they
don‘t need to mention taxes, ski resorts as a mortal danger to their already short seasons, golfers as a
boon to year-round recreation, and poor countries as a threat to their farmers as well as a source of financial and technological aid. This many-faceted nature also raises challenges to natural and social scientists, which must incorporate a wide variety of geophysical, economic, and political disciplines in their diagnoses and prescriptions.