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Heat Is Costing the U.S. Economy Billions in Lost Productivity
(www.nytimes.com)
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this post was submitted on 31 Jul 2023
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Climate - truthful information about climate, related activism and politics.
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Discussion of climate, how it is changing, activism around that, the politics, and the energy systems change we need in order to stabilize things.
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The Nordhaus estimates were always known for having limited utility for large changes in temperatures.
They assumed that damage to a sector wouldn't matter much if it was currently a small part of the economy. For example, if agriculture was 2% of the US economy, and agricultural output went to zero, the result would be 2% damage to GDP. The real world doesn't work that way though: people who are starving to death don't work, so GDP would go to zero in that case.