La Salle College   Higher School of Economics 

 Course - economics 

 Essay 

 “ Global warming and markets : how climate change 

 affects the economy 

 ? ” 

 Written by Rosa Perna 

 MDI-191 

 07.17.15 

 How climate change affects the economy ? 

 “ The time is past when humankind 

 thought it could selfishly draw on 

 exhaustible resources . We know now 

 the world is not a commodity . ” 

 Leo Ine 

 Climate change has always happened on Earth but since the Industrial 

 Revolution , human activity has been affecting the atmosphere , which has led to an   increase in temperature and caused global warming . These days such problem as   global warming is considered to be the most serious outcome of climate change . It   is rapidly developing , affecting many areas of human activity . One of the areas   affected is the economy , and I will try to look into this problem and state the most   important facts . 

 The first and most obvious fact is that the overall temperature is getting 

 hotter . The statistic shows that the global annual temperature has increased at an   average rate of 0.07 ° C per decade since 1880 and over twice that rate ( +0.18 ° C )   since 1981 . This has its consequences . Some niches of the economy are slowly   shutting down , but the others , on the contrary , are gaining rise . This is happening   because some products are not relevant and needed anymore . To provide an   illustration , not a long time ago , 10 - 20 years back , it was very popular in my   country ( which is Russia ) to wear winter fur coats . But it ’s noticeable that even the   famous harsh Russian winters are now not that harsh . With every new year , we see   warmer winters which are almost like European . Therefore , the manufacturers that   make fur coats lose money because their products are no longer in demand . On the   other hand , the summers are getting hotter too . People need to somehow cool down   their flats or houses and the request for air conditioners and cooling systems has   risen in the past years . 

 Not only does our society know about the climate change problem , but it also 

 is looking for a solution to it . Some actions have already been taken and some are   just about to be so . Climate change has proved the weakness of the modern economic   model . For more than 60 years the economy of consumption was thought to be the   most effective and dominant model , however , its time has to end very soon in order   to slow down global warming . Here ’s why : first of all , the more natural resources   people consume , the more damage it brings to our planet because of the greenhouse   gases ’ emission . This means that even if the countries are going to get richer , the   atmosphere is going to suffer and worsen . Secondly , such economic model is not   able to solve the global warming problem , consequently , there is no point of using   it as it is incompetent . For example , we can not burn that much of gas , coal and oil   anymore . Because if we do this , we will not solve the global warming problem .   Therefore , the owners of these fields are going to lose money as the fossils are not   going to be mined . According to the statistic , those changes would cost about 2   trillion dollars . But there is an alternative for all of the fossil fuels . Many companies 

 have already started using alternative sources of energy such as solar batteries , wind   farms , wave power plants , etc . These energy sources do no harm to the atmosphere   and help slow down climate change and global warming . 

 The last thing I want to mention is the carbon fee . It is also called “ climate 

 income ” . This idea has been supported by many scientists across the world . This is   how it works : a tax will be imposed on fossil fuel companies and the revenue will   be handed out to people . It is considered to be a very powerful way to stimulate clean   alternatives . Also , handing out the revenue as an extra monthly income would make   a real difference to most people . The idea has already been adopted by Canada and   Switzerland . These two countries have made it work efficiently , so now the activists   are calling on the other countries to do the same . 

 All in all , it is hard to state whether the effect of climate change on the 

 economy is positive or negative . On one hand , it “ kills ” some niches of the economy   and makes people lose money . But on the other hand , the climate change problem   forces people to invent something new and move on with it . It creates a platform for   progress and a better future . Even though there are might be some difficulties now ,   I tend to think that the impact of climate change on the economy is rather positive .   Sooner or later , people would learn how to earn money without terrorizing the   natural resources so that we can keep our planet clean and safe . 

 Sources : 

 • https://engineering.stanford.edu/magazine/article/economic-damage- 

 climate - change - may - be - more - you - think 

 • https://www.usgs.gov/faqs/why-climate-change-happening-and-what-are- 

 causes-1?qt - news_science_products=0#qt - news_science_products 

 • https://climate.nasa.gov/resources/global-warming-vs-climate-change/   • https://www.climate.gov/news-features/understanding-climate/climate- 

 change - global - temperature 

 • https://interaffairs.ru/news/show/25416   • https://www.climatehotmap.org/global-warming-effects/economy.html   • https://climateincome.org   • https://www.nytimes.com/2019/01/17/upshot/how-to-think-about-the-costs- 

 of-climate-change.html 


EMAIL: 
ID_NUM: 
NAME_STUDENT: Rosa Perna, Leo Ine
PHONE_NUM: 
STREET_ADDRESS: 
URL_PERSONAL: 
USERNAME: 

### Task: You are a PII (Personal Identity Information) Detection. Given a essays written by students, you have to identify ONLY the following:
NAME_STUDENT - The full or partial name of a student that is not necessarily the author of the essay. This excludes instructors, authors, and other person names.
EMAIL - A student’s email address.
USERNAME - A student's username on any platform.
ID_NUM - A number or sequence of characters that could be used to identify a student, such as a student ID or a social security number.
PHONE_NUM - A phone number associated with a student.
URL_PERSONAL - A URL that might be used to identify a student.
STREET_ADDRESS - A full or partial street address that is associated with the student, such as their home address.
### Input: La Salle College   Higher School of Economics 

 Course - economics 

 Essay 

 “ Global warming and markets : how climate change 

 affects the economy 

 ? ” 

 Written by Rosa Perna 

 MDI-191 

 07.17.15 

 How climate change affects the economy ? 

 “ The time is past when humankind 

 thought it could selfishly draw on 

 exhaustible resources . We know now 

 the world is not a commodity . ” 

 Leo Ine 

 Climate change has always happened on Earth but since the Industrial 

 Revolution , human activity has been affecting the atmosphere , which has led to an   increase in temperature and caused global warming . These days such problem as   global warming is considered to be the most serious outcome of climate change . It   is rapidly developing , affecting many areas of human activity . One of the areas   affected is the economy , and I will try to look into this problem and state the most   important facts . 

 The first and most obvious fact is that the overall temperature is getting 

 hotter . The statistic shows that the global annual temperature has increased at an   average rate of 0.07 ° C per decade since 1880 and over twice that rate ( +0.18 ° C )   since 1981 . This has its consequences . Some niches of the economy are slowly   shutting down , but the others , on the contrary , are gaining rise . This is happening   because some products are not relevant and needed anymore . To provide an   illustration , not a long time ago , 10 - 20 years back , it was very popular in my   country ( which is Russia ) to wear winter fur coats . But it ’s noticeable that even the   famous harsh Russian winters are now not that harsh . With every new year , we see   warmer winters which are almost like European . Therefore , the manufacturers that   make fur coats lose money because their products are no longer in demand . On the   other hand , the summers are getting hotter too . People need to somehow cool down   their flats or houses and the request for air conditioners and cooling systems has   risen in the past years . 

 Not only does our society know about the climate change problem , but it also 

 is looking for a solution to it . Some actions have already been taken and some are   just about to be so . Climate change has proved the weakness of the modern economic   model . For more than 60 years the economy of consumption was thought to be the   most effective and dominant model , however , its time has to end very soon in order   to slow down global warming . Here ’s why : first of all , the more natural resources   people consume , the more damage it brings to our planet because of the greenhouse   gases ’ emission . This means that even if the countries are going to get richer , the   atmosphere is going to suffer and worsen . Secondly , such economic model is not   able to solve the global warming problem , consequently , there is no point of using   it as it is incompetent . For example , we can not burn that much of gas , coal and oil   anymore . Because if we do this , we will not solve the global warming problem .   Therefore , the owners of these fields are going to lose money as the fossils are not   going to be mined . According to the statistic , those changes would cost about 2   trillion dollars . But there is an alternative for all of the fossil fuels . Many companies 

 have already started using alternative sources of energy such as solar batteries , wind   farms , wave power plants , etc . These energy sources do no harm to the atmosphere   and help slow down climate change and global warming . 

 The last thing I want to mention is the carbon fee . It is also called “ climate 

 income ” . This idea has been supported by many scientists across the world . This is   how it works : a tax will be imposed on fossil fuel companies and the revenue will   be handed out to people . It is considered to be a very powerful way to stimulate clean   alternatives . Also , handing out the revenue as an extra monthly income would make   a real difference to most people . The idea has already been adopted by Canada and   Switzerland . These two countries have made it work efficiently , so now the activists   are calling on the other countries to do the same . 

 All in all , it is hard to state whether the effect of climate change on the 

 economy is positive or negative . On one hand , it “ kills ” some niches of the economy   and makes people lose money . But on the other hand , the climate change problem   forces people to invent something new and move on with it . It creates a platform for   progress and a better future . Even though there are might be some difficulties now ,   I tend to think that the impact of climate change on the economy is rather positive .   Sooner or later , people would learn how to earn money without terrorizing the   natural resources so that we can keep our planet clean and safe . 

 Sources : 

 • https://engineering.stanford.edu/magazine/article/economic-damage- 

 climate - change - may - be - more - you - think 

 • https://www.usgs.gov/faqs/why-climate-change-happening-and-what-are- 

 causes-1?qt - news_science_products=0#qt - news_science_products 

 • https://climate.nasa.gov/resources/global-warming-vs-climate-change/   • https://www.climate.gov/news-features/understanding-climate/climate- 

 change - global - temperature 

 • https://interaffairs.ru/news/show/25416   • https://www.climatehotmap.org/global-warming-effects/economy.html   • https://climateincome.org   • https://www.nytimes.com/2019/01/17/upshot/how-to-think-about-the-costs- 

 of-climate-change.html
### Output: 