Predicting Long-run Economics of Climate Change

by Simon Bjerkholt

Predicting the future is always hard. According to a journal article written by Richard Rosen and Edeltraud Guenther predicting the net economic effects of climate change mitigation over long periods of time just might be impossible. Presently, the mode for predicting the effects of climate change mitigation on the world economy is to make predictions for the long term such as 2050 or 2100. The authors of this article argue that it would be much more effective to make plans for the short term and then adjust the plans as we learn more about the nature of the problem we are facing and the effectiveness of our attempts to stop it. Continue reading