Powered by Blogger.

Real estate finance management insurance

There’s reason to think the evidence for human-caused climate change is prevailing in the economic marketplace, as well: Property insurers and other profit-maximizing businesses with a substantial financial stake in the concept are taking actions that demonstrate they believe the evidence. They are working to create more accurate models of climate change and to price climate risk into insurance programs, even threatening lawsuits against actors who do not try to limit ongoing climate change. As we say in economics, revealed preferences are more convincing than stated ones.
Fundamentally, the concept of human-caused climate change has won out because alternative views — including arguments that the theory is a hoax spread by anti-growth and anti-technology Jeremiahs — contradict what competitive markets are demonstrating.
In the end, then, it is inconsistent to simultaneously accept that markets are powerful ways to allocate goods and services in the economy and also deny that human activity is causing substantial climate change. There’s room to argue over the economic implications of climate change or the best ways to mitigate and adapt to it, but the scientific consensus is no longer a matter of debate.