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CLIMATE CHANGE

THE EVOLUTION OF THIS ISSUE THROUGH AN ECONOMIC LENS

Climate Change Intro

Climate Change Intro

Climate Change is an issue that is still developing… it has just started, and there is still much more to come. Climate Change has evolved through the economic lens in these ways; from causes, to the costs of inaction, to solutions. In the following videos, each part will be explained.

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Climate Change, Fossil Fuel Subsidies, and the River of Money

Climate Change, Fossil Fuel Subsidies, and the River of Money

The river of money is described in this video, and how money is related to climate change, all the way to the cause to solutions. However, I would like to focus on how climate changed was caused through an economic lens. A huge factor of climate change is the greenhouse gases that are being trapped in our atmosphere... of which lots of these gases are coming from the oil and fuel industry. In fact, 2/3 of the gases that are heating the environment are from fossil fuels. So if emissions from this industry are such a huge factor of climate change, then why do we continue to favor this method of energy making? Because people believe it is more cheaper that renewable energy. People simply want things that cost less, when really it is creating a huge issue that will cost more in the long run.

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Climate Change: The Cost of Inaction

Climate Change: The Cost of Inaction

In this video, the cost of inaction is explained- if we don't do anything. The video continues to explain just how much damage and how much money future disasters will cost. For example, it gives examples of early consequences that have already happened (and how much they cost), and as well the future disasters that will happen (and how much they will cost). In the previous video, the economic lens was focused on the cause of climate change. In this video, the economic lens is tuned in to the cost of inaction. If we do not fix this problem, not only the US's but the rest of the world's economy will be negatively affected.

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Climate Change Video

Climate Change Video

In this video from Bill Nye Saves the World, a solution to the rising waters of climate change is explained. Venice, a city built on a lagoon has experienced major flooding from extreme tides of 3 meters due to climate change. But now, a new technology named MOSES gives a chance to saving this historic city. The system is giant gates that border the lagoon. They can be controlled to prevent from the tide coming into the city. Overall this project is costing 5.5 billion euros (6 billion US dollars). In the previous videos, the economic side of causes and effects (or inaction) was described. Now, in this video, the cost of solutions is explained. In just one city alone, it is costing 6 billion dollars to fix the effects of climate change... now imagine how much it would cost for the entire world. Also, this solution is only for rising waters... not for any of the other consequences of climate change. Overall, climate change and money have a lot to do with each other... whether is is why it started, the effects of it, or even the solutions.

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