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The latest global climate summit in Poland has generated familiar predictions of doom and disaster from environmental activists.weather events: It is second nature now to link these to climate change. Whenever a flood hits, the media blames global warming and warns floods are increasing. The frequency of all U.S. land-falling hurricanes has actually declined since 1900, as has that of major U.S. hurricanes.The truth about climate change is nuanced: It's real, and in the long term it will be a problem, but its impact is less than we may believe. According to the IPCC's last big report, unrestrained climate change would result in an average reduction in income of about 0.2-2 percent by the 2070s. Influential campaigner George Monbiot says "climate change" isn't alarming enough, so should be replaced with "climate breakdown".The International Energy Agency estimates that by 2040, even if the Paris Agreement holds, this will increase to just above 4 percent.If we are to address climate change successfully, we need to listen to William Nordhaus, the first climate economist to win the Nobel prize, who shows that tackling global warming is a question of finding the right balance.
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