Climate change damages US economy, increases inequality

Severe costs ahead especially in south and lower midwest

Solomon Hsiang et al. Estimating economic damage from climate change in the United States. Science, 2017 DOI: 10.1126/science.aal4369Online. — Unmitigated climate change will make the United States poorer and more unequal, according to a new study.

The poorest third of counties could sustain economic damages costing as much as 20% of their income if warming proceeds unabated.

Overall, the study — led by Solomon Hsiang of the University of California, Berkeley, Robert Kopp of Rutgers University-New Brunswick, Amir Jina of the University of Chicago, and James Rising, also of UC Berkeley — projects losses, economic restructuring and widening inequality.

“Unmitigated climate change will be very expensive for huge regions of the United States,” said Hsiang, Chancellor’s Associate Professor of Public Policy at UC Berkeley.

“If we continue on the current path, our analysis indicates it may result in the largest transfer of wealth from the poor to the rich in the country’s history.”

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Materials provided by Rutgers University. Note: Content may be edited for style and length.


Journal Reference:

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

Cite This Page:

Rutgers University. “Climate change damages US economy, increases inequality: Severe costs ahead especially in south and lower midwest, pioneering analysis projects.” ScienceDaily. ScienceDaily, 29 June 2017. <www.sciencedaily.com/releases/2017/06/170629142958.htm>.

Source:: Climate News — ScienceDaily

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