The Extraordinary Hidden Costs of the Climate-Change Transition

Wind turbines near Palm Springs, Calif., March 10, 2021. (Mike Blake/Reuters)
How climate policy will weaken the West

NRPLUS MEMBER ARTICLE T o achieve per capita economic growth, an economy must either produce goods and services that were not previously produced or produce the existing goods and services in a more efficient way. If an economy continues to produce the old goods and services but replaces the inputs with a more costly set of inputs, per capita growth will be negative. Such an economy would become poorer over time and less wealthy in per capita terms. This is the likely future of the U.S. and Europe as they stumble their way toward an effort to transition their economies to a different, more …

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