A study just released by the science journal Nature makes the connection between the rise of global temperatures and the negative impact this has on GDP around the world. In the study, titled “Global non-linear effect of temperature on economic production”, researchers found that “fundamental productive elements of modern economies, such as workers and crops, exhibit highly non-linear responses to local temperature even in wealthy countries.” Meaning as temperatures rise, the effect is much greater and accelerates in ways that are potentially disastrous.
One of the lead authors, Marshall Burke of Stanford’s Department of Earth System Science, calls their study “the first evidence that economic activity in all regions is coupled to the global climate.”
The study continues, “If future adaptation mimics past adaptation, unmitigated warming is expected to reshape the global economy by reducing average global incomes roughly 23% by 2100 and widening global income inequality.”
The impact on poorer, less developed countries will be much greater than wealthier industrial countries.
This data changes the way we need to plan our financial futures. This is not “Leave It To Beaver” 1960. We are in a new world and need to re-examine how we as individuals get financially from point A to point B.
I will be hosting a number of seminars in New York, Philadelphia, and New Jersey in November 2015. To learn more, be sure to attend one of these programs.
Retirement Income. Tax Efficient Planning.
Life Insurance. Disability Insurance
Socially Responsible Investing
To learn more contact:I
Cell: 215 768 5883
Devon Financial Partners 744 W Lancaster Av Suite 235 Wayne, PA 19087
This material contains the current opinions of the author but not necessarily those of Guardian or its subsidiaries and such opinions are subject to change without notice.
Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 7 Hanover Square, New York, NY 100034. 888-600-4667. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. 2015-13205 Exp. 10/17