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Trump climate policies will slam red states’ economic growth, major study finds – ThinkProgress
[ad_1] Failure to stop business-as-usual global warming will deliver a severe economic blow to Southern states , a recent paper by the Federal Reserve Bank of Richmond finds. Remarkably, this ground-breaking study, “ Temperature and Growth ” concludes that “under the business-as-usual scenario, the projected trends in rising temperatures could depress U.S. economic growth by up to a third.” As the Wall Street Journal summed up the findings: “ Climate Change May Deeply Wound Long-Term U.S. Growth .” The study focused on the impact of high temperatures in productivity and found that rising temperatures have their biggest negative economic impact in the summer — but that it’s not just outdoor work like farming and construction that suffers. Using historical data, the authors showed that the finance, retail, and real estate sectors also get hit hard during the hottest summers. The authors note that a scenario of low CO2 emissions would sharply reduce the economic harm. But such a scen...
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