As The Climate Breaks Down, Costs Go Up: Welcome To ‘Climateflation’

As the climate breaks down, costs go up: Welcome to ‘climateflation’

As a concept, climateflation proposes that the causes, effects and even attempts to mitigate and adapt to climate change are conspiring to make everyday life more expensive.

Not addressing climate change costs the economy more. When will we finally get this?

Recent analysis found that global GDP per capita would be more than 25 per cent higher today had no warming occurred

As the climate breaks down, costs go up: Welcome to ‘climateflation’

If you ask an economist why everything is so expensive these days, you will likely get an answer explaining how oil — the lifeblood of the global economy — is currently facing supply bottlenecks in the Strait of Hormuz, thereby bringing up global energy prices. That explanation is part of the answer, but it doesn’t paint the whole picture. Our new research proposes a new way of thinking about rising costs in our contemporary era, through the len…