A new study suggests global warming’s effect on GDP has been vastly underestimated. Will it finally break through the religion of infinite growth?

The New Republic article titled “Climate Change Could Cut the Economy in Half. We’re Not Ready for It” is a thought-provoking piece which delves into a recent study by the U.K.’s Institute and Faculty of Actuaries, conducted in collaboration with scientists at the University of Exeter. The study presents a stark projection: between 2070 and 2090, climate change could potentially reduce the global gross domestic product (GDP) by 50% if immediate and decisive actions are not taken to address environmental degradation and decarbonise our economies.

The article challenges the prevailing assumption that economic growth will persist unabated despite escalating climate disruptions. It critiques traditional economic models for underestimating the profound interdependence between ecological stability and economic prosperity. By highlighting the inadequacies of current economic theories that often overlook the tangible risks posed by environmental degradation, the piece calls for a paradigm shift in how we perceive and address the climate crisis.

Read this article to better understand the potential economic ramifications of climate change and the urgent need for transformative policies.

Original article by Genevieve Guenther, The New Republic, January 2025. Access the full article below.