4.8.26

Economic collapse


In 2018, the World Bank estimated that the current path of carbon emissions would sharply diminish the living conditions of 800 million living throughout South Asia. One hundred million, they say, will be dragged into extreme poverty by climate change just over the next decade.

You do not have to believe that economic growth is a mirage produced by fossil fumes to worry that climate change is a threat to it — infact, this proposition forms the cornerstone around which an entire edifice of academic literature has been built over the last decade.

What climate change has in store is not that kind of thing — not a Great Recession or a Great Depression but, in economic terms, a Great Dying.