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WolfEyes

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If I had that much acreage I'd be worried about it, too. But for different, and probably better, reasons.
 

Beebo Brink

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This is one of the reasons I believe that climate change will de-stabilize our societies. The cost of climate mitigation is ruinous. That's the price tag for ONE CITY. If we spend the money it takes to protect our cities and coastal lands from the effects of climate change (rising sea water, heat, drought, floods), that's money diverted from other urgent needs, almost inevitably education, healthcare, social support services. But if we don't spend that money, then the damages from climate change overwhelm infrastructure and living conditions deteriorate for everyone.

And then the temperature rises yet again, the sea levels rise yet again, and the money pit continues to widen and deepen. The cost of staying ahead of it will suck up everything.

I don't see how the capitalist economy will even function after a certain point. There will be some sort of upheaval, an economic re-structuring because our current model cannot be sustained when all available income is funneled into that one endeavor.
 

Innula Zenovka

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This is one of the reasons I believe that climate change will de-stabilize our societies. The cost of climate mitigation is ruinous. That's the price tag for ONE CITY. If we spend the money it takes to protect our cities and coastal lands from the effects of climate change (rising sea water, heat, drought, floods), that's money diverted from other urgent needs, almost inevitably education, healthcare, social support services. But if we don't spend that money, then the damages from climate change overwhelm infrastructure and living conditions deteriorate for everyone.

And then the temperature rises yet again, the sea levels rise yet again, and the money pit continues to widen and deepen. The cost of staying ahead of it will suck up everything.

I don't see how the capitalist economy will even function after a certain point. There will be some sort of upheaval, an economic re-structuring because our current model cannot be sustained when all available income is funneled into that one endeavor.
Depends what you mean by "capitalist economy."

To my mind, capitalism will manage just fine, since it's essentially a matter of moving debt around electronically, and governments in the major economies will find ways to mitigate the damage to major cities like Glasgow, just as they could all find money to deal with Covid.
 

Beebo Brink

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Depends what you mean by "capitalist economy."

To my mind, capitalism will manage just fine, since it's essentially a matter of moving debt around electronically, and governments in the major economies will find ways to mitigate the damage to major cities like Glasgow, just as they could all find money to deal with Covid.
For the short term (say the next few decades) that may work. I'm wondering what happens when we reach the point that all available money/labor is going into climate mitigation, but people are working for the equivalent of slave wages. Displaced populations are impoverished and too large in numbers to have any leverage. Social unrest grows to the point where the military is needed to maintain order and prevent uprisings. I think a feudal model of some sort will end up replacing our current structure. And yes, I suppose some vestige of capitalism may still exist in the cracks, but the social order around it will be very different.
 
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Innula Zenovka

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For the short term (say the next few decades) that may work. I'm wondering what happens when we reach the point that all available money/labor is going into climate mitigation, but people are working for the equivalent of slave wages. Displaced populations are impoverished and too large in numbers to have any leverage. Social unrest grows to the point where the military is needed to maintain order and prevent uprisings. I think a feudal model of some sort will end up replacing our current structure. And yes, I suppose some vestige of capitalism may still exist in the cracks, but the social order around it will be very different.
I guess the question isn't what the total cost is but what particular projects are going to be necessary, and when, and how they're funded (if they are), and by whom.

Things will happen as they happen, and there are so many variables flying around at the moment, there's no saying how things will look in 10 years' time.

I don't, though, see why it has to follow that people must work for the equivalent of slave wages. Everything's funded by debt, whether it's Amazon (debt to shareholders), the response to Covid, the US military or tax cuts for the rich. If labour costs rise, they rise, and they'll be funded by debt too.
 

Beebo Brink

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I don't, though, see why it has to follow that people must work for the equivalent of slave wages.
As larger and larger swaths of land are abandoned, you'll get a concentration of population in smaller areas. There will be more labor than jobs, and as always, pay goes down when there's no scarcity. As agricultural areas are eroded, hit by floods or drought, food will grow in scarcity as well.

There's no way to fully predict the interaction of all the variables, but based on historical examples, the outcome is not likely to be pleasant.