The Race of Our Lives

If the outcome depended on our good sense, if we had, for example, to decide in our long-term interest to take 5% or 10% of our GDP–the kind of amount that you would need in a medium-sized war–we would of course decide that the price was too high I think, until it would be too late. The more serious problem posed by ocean level rise will be the loss of the great rice producing deltas around the world–the Nile, the Mekong, Bangladesh, Thailand, and others, which produce about a fifth of all the rice grown in the world. Capitalism also has a severe problem with the very long term because of the tyranny of the discount rate, anything that happens to a corporation over 25 years out doesn’t exist for them.

Source: www.morningstar.com