Over the next century, higher temperatures and an increased number of droughts will hit the global barley supply, pushing beer prices way up. University of East Anglia economist Dabo Guan and his colleagues developed multiple scenarios based on several climate and economic models. Nature:
The researchers then simulated the effect of these droughts and heat waves on barley production by using software to model crop growth and yield on the basis of weather and other variables.
They found that, globally, this extreme weather would reduce barley yield by between 3% and 17%. Some countries fared better than others: tropical areas such as Central and South America were hit badly, but crop yields actually increased in certain temperate areas, including northern China and the United States. Some areas of those countries saw yield increases of up to 90% — but this was not enough to offset the global decrease.
Finally, Guan and his colleagues fed these changes in barley yield into an existing economic model that can account for changes in supply and demand in the global market. This enabled them to look at how reduced barley production would affect pricing and consumption of beer in countries, as well as trade between nations.
In the worst-case scenario, the reduced barley supply worldwide would result in a 16% decrease in global beer consumption in the years of extreme-weather events. Prices would, on average, double...
One goal of the research, Guan says, was to make tangible how "climate change will impact people’s lifestyle... (If people) want to drink beer when we watch football, then we have to do something."
painting: François Jaques, "Peasants Enjoying Beer at Pub in Fribourg" (Switzerland, 1923)
Modern Monetary Theory (MMT) (previously) is an alternative to neoclassical economics that holds that sovereign states that issue their own currency can't default on debts denominated in that currency (if you are the sole source of Canadian dollars and all your debts are in Canadian dollars, you can always pay those debts), and that deficit […]
Mariana Mazzucato (previously) came to prominence after the publication of her 2013 book The Entrepreneurial State, which described the way that robust state spending on large-scale R&D was critical to the kinds of commercial technological "breakthroughs" that the private sector liked to take credit for, and argued that the decades-long drawdown in public spending on […]
Modern Monetary Theory (AKA MMT) is the latest incarnation of a long-running current in economic thought, once called Chartalism, which has gained prominence in recent years as an alternative to austerity economics, whose dictates have immiserated millions, destabilized world politics, and threaten the extinction of the human race thanks to climate inaction in the guise […]
There’s no shortage of wireless chargers out there. So when one scores a Best of Innovation Award at the Consumer Electronics Show, we take notice. And, those industry nods mean good news for just about anybody with a smartphone, because the HyperCharger X Wireless Charger means there’s no excuse for losing power when you’re out […]
Once you’ve cut steak or poultry with some actual quality knives, it’s really tough to go back to those budget blades you bought at the department store a couple of decades ago. Consider that a fair warning about this 5-Piece Professional Damascus Chef’s Kitchen Set. The holiday discount makes it easy to buy for a […]
Concerned about your eyesight? You probably should be. And we’re not just talking about seniors here. Young or old, we’re all at risk of coming down with vision issues Most of us might get a vision test only once every couple of years or so when we get a new pair of glasses – if […]