Does climate change affect income? New study sees robust link.

If global warming continues unabated, it could slash income around the world by more than 20 percent by century's end, compared with a world without global warming, according to a new study. Some industrial countries would share in the losses, but the heaviest hits would come to developing countries in the tropics and subtropics, widening an already large gap between rich and poor nations, the study finds. Overall, 77 percent of the countries on the planet would see per capita income fall. The study's estimates of the economic costs linked to unabated warming are 2.5 to 100 times larger than estimates in previous studies, notes Solomon Hsiang, a researcher at Cal Berkeley, Lab co-director, and member of the team that conducted the analysis.