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Economics as if People Mattered

Economics as if People and Planet Mattered

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Central Banks Must Prepare for Climate‑Driven Labor Shocks

Impact:

  • Highlights risk to 1.2 billion workers across 182 countries, particularly in heat‑sensitive sectors like agriculture and construction.
  • Urges that central banks incorporate climate‑induced labor productivity losses into monetary policy and risk frameworks.
  • Signals a shift in macroeconomic governance: economic stability tied to ecological health.

Net Economic Benefits from Protecting Nature Established

Impact:

  • Challenges false trade‑off between ecology and economy, showing that environmental protection yields net economic gains.
  • With solar prices down 99% and climate disasters costing ~$143 billion/year, nature-friendly policy is now financially sensible.
    • Supports arguments for carbon pricing, nature-based planning, and ecosystem valuation in policy and planning.

Global Biodiversity Loss Costing the Economy up to $25 Trillion Annually

Impact:

  • Quantifies staggering economic losses—up to $25 trillion/year—due to nature degradation from agriculture, energy, fisheries.
  • Projects potential of unlocking $10 trillion in business opportunities and 395 million jobs by 2030 via integrated nature‑economy action.
  • Underscores urgency of aligning economic policy with biodiversity preservation to avoid systemic ecological‑economic collapse.

Economic Teaching Neglects Ecological Perspectives

Impact:

  • Reveals that 75% of UK universities still omit ecological economics from their economics programs.
  • Reinforces concern that mainstream economic education fails to equip students for pressing challenges like ecological collapse and social inequality.
  • Adds momentum to calls for pluralistic, interdisciplinary reform in economic thought and instruction.

Summary Table

Story Economic Impact & Significance
Central banks integrating climate risk Links macroeconomic policy to ecological labor shocks and inequality
Net economic benefits of nature protection Validates investments in biodiversity and climate as economically strategic
Biodiversity loss costing trillions Quantifies ecosystem externalities and maps opportunity in nature‑positive economies
Economics curricula ignoring ecological economics Highlights systemic blind spots in training future policymakers
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