Extreme heat, it turns out, is very bad for the economy. Crops fail. People work less, and are less productive when they do work.
That’s why an increase in extremely hot days is one of the more worrisome prospects of climate change. To predict just how various countries might suffer or benefit, a team of scientists at Stanford and the University of California, Berkeley, have turned to historical records of how temperature affects key aspects of the economy. When they use this data to estimate how various countries will fare with a warming planet, the news isn’t good.
Read more at MIT Technology Review