Will A Green Swan Fly?

The splashiest talking point at this year's World Economic Forum in Davos is the idea of a “Green Swan.”

Myles Udland, January 22, 2020 (Yahoo Finance)

“…[C]limate-related events could be the source of the next financial crisis…[and calculating the associated] risks pose a particular challenge to economists…[According to the Bank for International Settlements (BIS), known as the central bank for central banks, and at least two Wall Street banks, the possibility of an unexpected Green Swan caused by the climate crisis] alters the conversation around what economic growth can be and how policymakers should pursue this end…

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[I]f climate change makes a sustainable path forward for growth untenable, then our modern societal organization around this economic policy could be upended…[and] a world without economic growth may create a damaging backlash against such climate policies…[but with the status quo,] irreversible damage to our planet will increase…On the one hand, modern civilization is screwed. On the other hand, modern civilization is screwed…

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...[Some economists say] the current work outlining potential impacts on economic growth due to climate change are still too conservative…[though they foresee] business-as-usual dominating the decision-making among political leaders in the years ahead…” click here for more

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