How Global Warming is Affecting the American Economy
The Greenhouse Effect is alarmingly worsening today at an uncontrollable rate. People may not know that this occurrence in our atmosphere is continuously causing negative results not only to our environment and health but to our economy as well. Therefore, it is important that we identify how global warming is affecting the American Economy.
Among the negative consequences of global warming that obviously affects the U.S. economy are the increasing frequency and severity of droughts, heat waves, wildfires, crop failures and floods (Geller, 2004). Following to these effects are the succeeding consequences of increasing energy costs and surging prices of prime commodities. Additionally, another effect of global warming is the rising sea level that can result to floods. When floods occur, such as in Florida and Atlantic Coast, some economic activities can be hampered i
Anything that affects farming affects the state economy. Some researchers predict that under the influences of climate change, southern Wisconsin farms might begin to resemble those in present-day Kansas.
Taxes in the U.S states are also affected by global warming. When prices of gasoline and energy resources surges, the same goes for other commodities from which the U.S. nation derives its supplies to serve its people. Thus, to be able to do its services, the U.S. government would need enough monetary resources that in the last end are taken from its peoples' taxes. And, when the taxes increase, another domino effect occurs such as another increase in the prices of consumer goods. This continuous increase of prices in the different activities that are essential to living causes the U.S. economy to become vulnerable and uncompetitive, particularly the value of the U.S
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