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An economic impact analysis is commonly developed in conjunction with proposed legislation or regulatory changes, in order to fully understand the impact of government action on the economy. The United States Department of Energy economic impact model is one example of this type of application. [ 16 ]
GDP per person, also known as GDP per capita is a simple definition of individual economic productivity as well as a rough proxy for average living standards, for individual prosperity. [3] If a nation can focus on increasing the productivity of its citizens, that improvement in economic output will help increase its GDP. It will also increase ...
Buildings in Rio de Janeiro, demonstrating economic inequality. Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, [1] a lower population-wide satisfaction and happiness [2] [3] and even a lower level of economic growth when human capital is neglected for high-end consumption. [4]
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
The economic impacts of climate change also include any mitigation (for example, limiting the global average temperature below 2 °C) or adaption (for example, building flood defences) employed by nations or groups of nations, which might infer economic consequences.
Anthropogenic climate change as a consequence of greenhouse gas emissions from the burning of fossil fuels and the rearing of livestock. The Stern Review on the Economics of Climate Change says "Climate change presents a unique challenge for economics: it is the greatest example of market failure we have ever seen." [24]
World leaders are meeting in Paris this month in what amounts to a last-ditch effort to avert the worst ravages of climate change. Climatologists now say that the best case scenario — assuming immediate and dramatic emissions curbs — is that planetary surface temperatures will increase by at least 2 degrees Celsius in the coming decades.
An erosion gully in Australia caused by rabbits, an unintended consequence of their introduction as game animals. In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences, more colloquially called knock-on effects) are outcomes of a purposeful action that are not intended or foreseen.