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The uncertainty surrounding climate change argues for action, not inaction. America should lead the way
This uncertainty is central to the difficulty of tackling the problem. Since the costs of climate change are unknown, the benefits of trying to do anything to prevent it are, by definition, unclear. What's more, if they accrue at all, they will do so at some point in the future. So is it really worth using public resources now to avert an uncertain, distant risk, especially when the cash could be spent instead on goods and services that would have a measurable near-term benefit?
If the risk is big enough, yes. Governments do it all the time. They spend a small slice of tax revenue on keeping standing armies not because they think their countries are in imminent danger of invasion but because, if it happened, the consequences would be catastrophic. Individuals do so too. They spend a little of their incomes on household insurance not because they think their homes are likely to be torched next week but because, if it happened, the results would be disastrous. Similarly, a growing body of scientific evidence suggests that the risk of a climatic catastrophe is high enough for the world to spend a small proportion of its income trying to prevent one from happening.
One time climate skeptics, The Economist weighs in with a special issue on climate change.
