The Economics of Weather
Weather: Recap
A recap of how weather shapes the economy.
Weather is an economic force.
Module recap
- Weather affects most sectors.
- Forecasts are valuable public goods.
- Heat cuts work output.
- Weather shapes shopping.
- Fog disrupts transport.
- Weather insurance pays by readings.
- Cyclone warnings save lives.
- Lightning is a hidden killer.
- Urban floods have human causes.
- Weather affects mood slightly.
- Extremes are rising.
Lesson
Information and preparation reduce weather’s costs.
The prepared city
A city with warnings, drains and cooling centres suffers far less from extreme weather.
Thinking weather is beyond our control
Preparation reduces its costs.
Key takeaways
- Weather shapes the economy.
- Forecasts and warnings save money and lives.
- Extremes are rising.
- Preparation pays.
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