Repair the damage from climate change

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Reference no: EM138842

Suppose that the government is debating whether to spend $100 billion today to address climate change. It is estimated that $700 billion of damage will be averted, but from now these benefits will accrue 100 years. Critic of the proposal says that it would be far better to invest the $100 billion, earning an average real return of 5% per year, and then use the proceeds in 100 years to repair the damage from climate change. Is the critic correct? Explain why or why not.

Reference no: EM138842

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