Why might the hypothetical I raised last week turn out to be real? That is, that I am in fact better off @ $2000 relative to other more prevalent “stressors” in my environment (level of nutrition, health care I can afford, education I can afford etc) AND that improvement is greater than the net negative climate effect. It depends. The effects of climate change depend very much on where you live as well as how you live. Obviously, if you live in low-lying coastal regions, rising sea levels may affect you directly. Otherwise the effects will be indirect. Climate’s effects will be primarily experienced by way of existing stressors that are exacerbated. Can we get a handle on how to quantify this? In doing so, we can pose this as a national rather than individual issue. Here is what we need to answer:
How much GNP does a country sacrifice for avoiding climate change?
But in answering that we need to know how much does climate change costs in terms of welfare?