John Cochrane recently posted an important blog post sketching out his claim that climate change will only have a small impact on world GNP over the next 75 years. He argues that the trend growth (3% growth for 60 years) will swamp the effect of climate change).
Consider a University of Chicago Econ 301 homework assignment situated in Summer 2021 in the American West.
"You own a $500,000 home in a fire zone in the American West. You owe $X on your mortgage.
"You own a $500,000 home in a fire zone in the American West. You owe $X on your mortgage.
John Cochrane has posted an important blog post about adapting to climate change. His piece mainly focuses on macroeconomic issues. For decades, John was colleagues with Bob Lucas and those familiar with Robert Lucas's optimistic work on economic growth will see a correlation.
A nuanced blog post about the damage that we will suffer because of climate change.
Cliff Winston sent me a copy of his forthcoming book Gaining Ground --- so I read it. This is an optimistic book that celebrates the constructive role that markets play in improving our quality of life. A theme throughout the book is the synergy between market forces and government activity.
