By point of reference, 7.6% is more than half of the world wide drop in GDP during the Great Depression. During the Depression, GDP dropped by about 30% and unemployment went up 20% or so. Assuming unemployment/GDP is about the same now as then, that would translate into an increase in the unemployment rate of 5%, on top of the fudged figure we already have. And this will be permanent, unless the emission caps are removed (unlikely).When I queried [Bjorn] Lomborg specifically about the U.S. numbers, he provided this comment:Also, note that a reduction by 80% in 2050 will cost the US about $1.2 trillion annually in lost GDP if politicians pick all the smart solutions (carbon tax etc). This is according to the Stanford Energy Modeling Forum 24, which ran 12 scenarios on 6 models to estimate the cost. This is 3.8% of GDP in 2050, and experience tells us that if politicians don’t do the smart thing, the cost will at least double (so about $2.4 trillion annually or 7.6% of GDP). Seems somewhat unlikely.
So a cursory reading of the proposed Climate agreement is that an extra 5 Million Americans will be thrown out of work permanently. But hey: eggs, omlets, amirate?
Can someone please explain to me how environmentalists think they're nicer than you and me?
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