Daryll Ray's and Harwood Schaffer's most recent “Policy Pennings” column deals with a controversial topic—climate change.
But they contend that failing to prepare for climate change may be worse for agriculture and the world’s population than denying its existence.
“It is our observation that much of the denial—including by some in the U.S. farming community—of the concept of human-induced climate change has less to do with scientific analysis than it does with the policy implications of climate change. They don’t like the regulatory policies—like cap and trade (a proven market-oriented motivator originally proposed by free market advocates) or just about any Environmental Protection Agency emissions controls—that might be required. The CCGA analysis that we look at in this column suggests that doing nothing could be worse.”
They add: “To manage the challenges brought about by climate change, farmers will have to adapt by growing new crops, changing agricultural practices, and purchasing different inputs. The cost of making these changes will divert resources that otherwise would be used “for other farming upgrades.” Some areas will no longer be suitable for agricultural production, forcing farmers off the land.”