Nouriel Roubini, an economist and New York University professor, and Ian Bremmer, Eurasia Group president, say extreme weather caused by climate change is hampering the global economy. One big problem: Poor nations have few incentives to address the issue because solutions could slow their economic growth. (January 14, 2013).
.
After Roubini’s minute and a half, listen on for Bremmer’s comments if you want a taste of economic fatalism.
It’s a dilemma: just when government will need resources to maintain economic security, it will be buffeted by demands to respond to the impacts of climate change – like Alberta. The first round of floods is costing billions to otherwise (so they claim) cash-strapped governments.
How many more rounds can they take, particularly to absorb the risk of those who expect government to insulate them?
Well, the Alberta government’s solution is simply to say that people can’t build in flood plains anymore. Or at least, that Alberta won’t pay for their damages if they do.
Kind of fitting that in Alberta, the costs of dealing with damages from climate change are being left to the individual.