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How Markets Adapt to Climate Change

How Markets Adapt to Climate Change

From Matthew E. Kahn at PERC:

In 1980, the biologist Paul Ehrlich and the economist Julian Simon engaged in a famous debate. Ehrlich argued that ongoing population growth would lead to overconsumption of natural resources and a collapse in food consumption per person. Simon countered that rising scarcity creates incentives to unleash human ingenuity and address the challenge.

The C3 Take
  • Reducing the risk of climate change will require both mitigation and adaptation.
  • Market competition, price signals and human ingenuity will help us adapt to the climate risks we face.
  • Government policies that distort markets and risk have the unintended consequence of slowing innovation and climate adaptation.

Read the full article here.

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