The severe drought hitting U.S. farms may be just the latest sign of climate change and the impact it will have on the economy.
Climate change and economics have been intersecting long before a drought descended upon the Midwest this year. Over the past 20 years, policies that impose a “cap and trade” system or emission reduction targets have been called economically irresponsible and haven’t put a dent in the climate change problem. Carbon emission levels in Canada were actually 25 per cent higher in 2007 than in 1990.
