{"id":34334,"date":"2024-05-18T17:43:42","date_gmt":"2024-05-18T17:43:42","guid":{"rendered":"https:\/\/idea.membrane.com\/songwriter\/?p=34334"},"modified":"2024-05-18T17:43:42","modified_gmt":"2024-05-18T17:43:42","slug":"increase-in-decline","status":"publish","type":"post","link":"http:\/\/kingarthur.com\/songwriter\/2024\/05\/18\/increase-in-decline\/","title":{"rendered":"Increase in Decline"},"content":{"rendered":"<ul>\n<li><a href=\"http:\/\/kingarthur.com\/MegaEpix-Enormous\/multimedia\/Increase-in-Decline.mp3\"> Increase-in-Decline.mp3<\/a><\/li>\n<li><a href=\"http:\/\/kingarthur.com\/MegaEpix-Enormous\/multimedia\/Increase-in-Decline.mp4\"> Increase-in-Decline.mp4<\/a><\/li>\n<\/ul>\n<p>[Verse 1]<br \/>\nPrimate change<br \/>\nThe social cost of carbon<br \/>\nCome on,<br \/>\nEstrange<\/p>\n<p>[Chorus]<br \/>\nAn increase in decline<br \/>\nHappening all the time<br \/>\nIn fact, the impact<br \/>\nWails a whack<\/p>\n<p>[Instrumental, Guitar Solo, Drum Fills]<\/p>\n<p>[Verse 2]<br \/>\nPrimate change<br \/>\nCosts an arm and a leg<br \/>\nFeels strange<br \/>\nLiterally, I beg<\/p>\n<p>[Chorus]<br \/>\nAn increase in decline<br \/>\nHappening all the time<br \/>\nIn fact, the impact<br \/>\nWails a whack<\/p>\n<p>[Instrumental, Saxophone Solo, Piano]<\/p>\n<p>[Bridge]<br \/>\nMacroeconomic impact<br \/>\nThe poor poorly lack<br \/>\nDamn damages<br \/>\nUpset averages<br \/>\nExtreme events<br \/>\nPrevents<\/p>\n<p>[Chorus]<br \/>\nAn increase in decline<br \/>\nHappening all the time<br \/>\nIn fact, the impact<br \/>\nWails a whack<\/p>\n<p>[Instrumental, Guitar Solo, Bass]<\/p>\n<p>[Outro]<br \/>\nMacroeconomic impact<br \/>\nThe poor poorly lack<br \/>\nDamn damages<br \/>\nUpset averages<\/p>\n<p>[End]<\/p>\n<p>A SCIENCE NOTE<br \/>\nThe Macroeconomic Impact of Climate Change: Global vs. Local Temperature<\/p>\n<blockquote><p>This paper estimates that the macroeconomic damages from climate change are six times larger than previously thought. We exploit natural variability in global temperature and rely on time-series variation. A 1\u00b0C increase in global temperature leads to a 12% decline in world GDP. Global temperature shocks correlate much more strongly with extreme climatic events than the country-level temperature shocks commonly used in the panel literature, explaining why our estimate is substantially larger. We use our reduced-form evidence to estimate structural damage functions in a standard neoclassical growth model. Our results imply a Social Cost of Carbon of $1,056 per ton of carbon dioxide. A business-as-usual warming scenario leads to a present value welfare loss of 31%. Both are multiple orders of magnitude above previous estimates and imply that unilateral decarbonization policy is cost-effective for large countries such as the United States.<\/p><\/blockquote>\n<p>The economic damage caused by climate change is six times worse than previously estimated, with global warming set to reduce wealth at a rate comparable to the financial losses of a continuous, permanent war, according to recent research.<\/p>\n<p>The study found that a 1\u00b0C increase in global temperature leads to a 12% decline in world gross domestic product (GDP), a far higher estimate than previous analyses. The world has already warmed by more than 1\u00b0C (1.8\u00b0F) since pre-industrial times, and many climate scientists predict a 3\u00b0C (5.4\u00b0F) rise will occur by the end of this century due to the ongoing burning of fossil fuels. This scenario, according to a new working paper that has yet to be peer-reviewed, will result in an enormous economic cost.<\/p>\n<p>A 3\u00b0C temperature increase will cause &#8220;precipitous declines in output, capital, and consumption that exceed 50% by 2100,&#8221; the paper states. This economic loss is so severe that it is &#8220;comparable to the economic damage caused by fighting a war domestically and permanently,&#8221; it adds.<\/p>\n<h2><a href=\"http:\/\/membrane.com\/global_warming\/Age-of-Loss-and-Damage.html\">The Age of Loss and Damage<\/a><\/h2>\n<h3>From the album &#8220;Right Now&#8221; by <a href=\"http:\/\/membrane.com\/The_Beatless_Sense_Mongers\/\">The Beatless Sense Mongers<\/a><\/h3>\n<h2><a href=\"http:\/\/kingarthur.com\/MegaEpix-Enormous\/\">MegaEpix Enormous<\/a><\/h2>\n<h2><a href=\"http:\/\/membrane.com\/global_warming\/\">A song about The Human Induced Climate Change Experiment<\/a><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Increase-in-Decline.mp3 Increase-in-Decline.mp4 [Verse 1] Primate change The social cost of carbon Come on, Estrange [Chorus] An increase in decline Happening all the time In fact, the impact Wails a whack [Instrumental, Guitar Solo, Drum Fills] [Verse 2] Primate change Costs an arm and a leg Feels strange Literally, I beg [Chorus] An increase in decline [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[3,9,14,3955,24],"tags":[163,546,563,3968],"class_list":["post-34334","post","type-post","status-publish","format-standard","hentry","category-4d-music","category-daniel","category-lyrics","category-megaepix-enormous","category-the-beatless-sense-mongers","tag-climate-change","tag-mp4","tag-music-videos","tag-right-now"],"_links":{"self":[{"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/posts\/34334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/comments?post=34334"}],"version-history":[{"count":2,"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/posts\/34334\/revisions"}],"predecessor-version":[{"id":34344,"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/posts\/34334\/revisions\/34344"}],"wp:attachment":[{"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/media?parent=34334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/categories?post=34334"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/kingarthur.com\/songwriter\/wp-json\/wp\/v2\/tags?post=34334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}