The $1 Trillion Carbon Cap GDP Boost

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


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.

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate