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Climate change damages US economy, increases inequality

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June 29, 2017  Rutgers University  see full ScienceDaily article here

Unmitigated climate change will make the United States poorer and more unequal, according to a new study published in the journal Science. The poorest third of counties could sustain economic damages costing as much as 20 percent of their income if warming proceeds unabated.

States in the South and lower Midwest, which tend to be poor and hot already, will lose the most, with economic opportunity traveling northward and westward. Colder and richer counties along the northern border and in the Rockies could benefit the most as health, agriculture and energy costs are projected to improve….

….”The ‘hidden costs’ of carbon dioxide emissions are no longer hidden, since now we can see them clearly in the data,” said Jina, a postdoctoral scholar in the department of economics at the University of Chicago. “The emissions coming out of our cars and power plants are reshaping the American economy. Here in the Midwest, we may see agricultural losses similar to the Dustbowl of the 1930s.“…

Solomon Hsiang et al. Estimating economic damage from climate change in the United States. Science, 2017 DOI: 10.1126/science.aal4369

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