[Illustrations, footnotes and references available in PDF version]
So far, the climate skeptics are right, the cry-babies wrong.
Just to cut the 1/6 C° warming predicted for the current decade would cost the world $540 trillion, or $77,000 for every man, woman and child on Earth, or 80% of ten years’ global GDP. Yet the Stern report of 2006 costs letting 3 C° warming happen this century at just 1.5% of GDP. Even if the world warms by 3 C° this century (it won’t), and even if the cost of letting 3 C° happen were as much as 1.5% of GDP (it isn’t), it costs 50 times more to act today than to adapt later.
The cost-ineffectiveness of probably-needless climate mitigation, not indifference to our grandchildren’s fate, is why governments are rightly ignoring the cry-babies crying Wolf.