Flawed economic models mean climate crisis could crash global economy, experts warn

[markodochartaigh]

1. Nordhaus won a Nobel Prize in economics

for his estimates of GDP reduction by anthropogenic climate change.


"Nordhaus claimed that 3°C of warming would reduce global GDP by just 2.1%, compared to what it would be in the total absence of climate change. Even a 6°C increase in global temperature, he claimed, would reduce GDP by just 8.5%."


https://www.ucl.ac.uk/news/2020/sep/nobel-prize-winning-economics-climate-change-misleading-and-dangerous-heres-why

I'm not a Nobel winning economist, and I bet anyone reading this comment isn't either, but just search scenarios for 6°C warmer Earth and ask yourself how GDP will only drop by 8.5%.