The $1 Trillion Carbon Cap GDP Boost

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The consensus among economists these days is that the economic cost of curbing climate change in the short-term will run between 0.5 and one percent of U.S. GDP—about $143 billion if we use 2008’s GDP as a reference.

But Grist‘s Gar Lipow doesn’t think curbing climate change will cost the GDP a dime:

[T]here are some good reasons why the consensus is wrong about there being a net cost at all. I think the overwhelming evidence is that a climate-stable future will have a higher GDP, even before avoided climate disruption is counted.

Lipow thinks most economists have underestimated the benefits of capping enough carbon to stop climate change. He reasons that productivity will see a net 5 percent gain after enough buildings are greened, renewable resources replace fossil fuels, and workers begin reaping the health benefits of cleaner air and water.

Five percent of our current GDP is about $715 billion, but if projections hold, our GDP will hit $26 trillion by 2030, meaning total productivity gain would have to equal $1.3 trillion to fall in line with Lipow’s prediction.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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