US Households and the Economy Alerted about the Potential Hard Times due to Global Warming

Relationship between climate change, temperature and economy has finally been found after evaluating 50 year's data by the researchers at Stanford and University of California at Berkeley. The core of the study was to learn about the wealth indicators and geological areas of countries and evaluate the transition as the climate changed over the years. According to Nature, if the temperature continues to rise at this rate then it can easily impact the productivity globally by 20-40%. Another alarming trend projected by the authors of the study is that by thus rate, there will be a 23% reduction in global out by the end of 2100 as a result of climate change. This study has been made public before the conference on climate change by the United Nations that is scheduled to be held later this year in Paris, as per Statesman Tribune

For the productivity to stay at the optimal level, average annual temperatures have been determined by the study. According to the model proposed by the scientists, the coutries that will benefit from the warmer temperatures are Russia, Northern European countries and Canada. This is because they are yet to reach the optimal average temperature that is required for an economy to be fully productive, that is 55 degrees Fahrenheit. This is where US is right now. When the economies fall within the regions that fall above or below this temperature will grow relatively slow. When the countries experience a critical heat tipping point, the growth will drop bluntly, according to News Informer

Thomas Sterner, economist at the University of Gothenburg in Sweden, wrote in his paper published in Nature, "The conclusion that temperature-associated costs will be higher than previously calculated will cause a stir, and should have stark repercussions for policy", says Syndicated News Headlines