In recent years, a strand of economic literature has argued that warming
not only negatively affects the level of economic activity,
but also the rate of income growth. PHOTO BY BLOOMBERG
Ross McKitrick explains in his Financial Post article Why climate change won’t hurt growth. Excerpts in italics with my bolds.
There is no robust evidence that even the worst-case warming scenarios would cause overall economic losses
It has long been observed that global poverty tends to be concentrated in hot, tropical regions. But persistent poverty in African and South American countries has political and historical roots, especially their embrace of Soviet-backed communism in the 20th century. In places where economic reforms were adopted, like South Asia, growth took off and they quickly converged with the West, despite having tropical climates. So the connection to climate may be coincidental.
But in recent years, a strand of economic literature…
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