Impacts of Global Warming on Economy

Abstract

Global warming is the rise in temperature of the Earth's surface and its atmosphere, resulting from human activities. It is caused by the greenhouse effect, which can be described as an increase in heat trapping gases such as carbon dioxide and methane in Earth's atmosphere. Global warming has been named a major factor for raising global sea levels through its effects on oceanic thermal expansion, melting glaciers and polar ice caps, changes in ocean patterns due to global warming. All of these changes will have an impact on economy and this paper will investigate each factor’s impact. Global warming has had and will have many impacts on the economy. If global warming is to be stopped future generations should not have to pay for the pollution and other effects that occur as a result of global warming caused by human activity. Economies will be changing in response to far less energy being produced by fossil fuels, and therefore a decrease in economic output. People will also think about more renewable energy production systems in their homes, such as a solar panel. This paper will focus on the negative impacts that arrive because of global warming caused by human activity.