Super illustration of 2015 world temperature record AND underlying warming trend! -> bit.ly/1kvkxLo @NOAA https://t.co/YoeZtmDcga—
Bits of Science (@BitsOfScience) October 22, 2015
A nice summary of the latest research showing that once again the welfare cost of climate change is small except under the most extreme scenarios.
2% of national income is not something to declare a national emergency over unless you are in a very poor country.
Richard Tol also mentions that there has only been 27 studies of the economic costs of climate change:
Twenty-seven estimates is a thin basis for any conclusion. Researchers disagree on the sign of the net impact; climate change may lead to a welfare gain or loss. At the same time, researchers agree on the order of magnitude. The welfare change caused by climate change is equivalent to the welfare change caused by an income change of a few percent.
- That is, a century of climate change is about as good/bad for welfare as a year of economic growth.
As Tol wrote elsewhere, the…
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Utopia, you are standing in it! 
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