Looking Forward to World Peak: Climate Change-Induced Market Prospects
62 Pages Posted: 8 Aug 2018
Date Written: July 22, 2018
Abstract
Climate change research has primarily been focused on the negative impacts of a warming earth on ecologic, human and infrastructure development. Recently, the gains of a changing temperature have been addressed in the economics literature. Based on the mean temperature and Gross Domestic Product (GDP) composition as well as insights on the optimal cardinal temperature for economic production, economic gains and losses from a warming globe have recently thematised to be distributed unequally around the globe. Pioneering research on the peak temperature for economic output divided the world into climate change winning and losing territories. Philosophical and ethical imperatives now call for redistributing climate change gains into those areas that will be losing in light of a declining economic output prospect on a warming earth. Facing political and national interest tainted redistribution feasibility constraints; the following article highlights climate change winning industries and economic sectors around the world in a changing temperature – aside from country denominations – in order to derive conclusions how to reap benefits from those market segments that are prospected to be rising in order to alleviate tensions arising in those market areas that are prospected to face difficulties on a warming earth. Overall, the data presented over all three GDP pillars of the agriculture, service and industry sectors suggests that climate change will affect their feasibility and performance. As the temperature will be rising, we may therefore see a shift from industry production with lowest optimum temperature to service sector activities with medium peak cardinal temperature and then agriculture sector productivity with the highest optimum temperature as recalculated by a meta-analysis of literature sources. Overall, the literature meta-analysis results outline that the peak condition for happiness at 14°C has passed when considering the world mean temperature of 18.6°C (65°F). In addition, the peak condition for workplace temperature has passed when measure by the world mean temperature of 18.6°C (65°F). We are currently in the general comfort zone range for agreeable temperature when considering the world mean temperature. So while the peak temperature time for plant seed growth is still ahead, subjective well-being based on temperature is either currently prevalent or has passed. Heat waste production is prospected to become a luxury good in the future; as well all winter sports related activities. When it comes to safety, Legionella bacteria in the water will soon become a problem and medical and hygiene markets that combat this risk and disease will likely prosper soon. The results have implications for global warming mitigation and adaption strategies as well as hold invaluable novel insights for the implementation of a transition into renewable energy.
Keywords: Agriculture sector, Business gains, Cardinal temperature, Climate change, Competitive advantage, Corporate Benefits, Economic advantage, GDP, Global Warming,Gross Domestic Product, Industry sector, Market prospects, Market predictions, Net National Wealth, NNW, Service sector
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