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Climate Change – What Do Economists Really Think?

By Jerry Taylor -- November 17, 2009

Last week I summarized the economics literature on the impact of climate change on human well-being.  Or more accurately, Richard Tol reviewed the economics literature for the Spring 2009 issue of The Journal of Economic Perspectives.  I simply told you about it and tossed in a few observations that I thought relevant.

In short, I reported that the peer-reviewed literature suggests that worries about some climate-induced Armageddon are probably misplaced.  We will likely gain or lose a year of economic growth sometime in the latter half of this century from forecasted changes in the world’s physical climate.  More than that cannot be said with much confidence.

Then, by coincidence, a study crosses my desk from the Institute for Policy Integrity at the NYU Law School.  The study, titled “Economists and Climate Change; Consensus and Open Questions,” reports the findings of a survey of 289 of those economists the institute considers to be “the world’s top economists with expertise in climate change.” …