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More capitalism, less greenhouse gas. ""Put simply, poor people are willing to sacrifice clean water and air, healthy forests, and wildlife habitat for economic growth. But as their incomes rise above subsistence, "economic growth helps to undo the damage done in earlier years," says economist Bruce Yandle .. The link between greenhouse gas emissions and economic prosperity is no different. Using data from the United States, Professor Robert McCormick finds that "higher GDP reduces total net [greenhouse gas] emissions." He goes a step further by performing the complex task of estimating net U.S. carbon emissions. This requires subtracting carbon sequestration (long-term storage of carbon in soil and water) from carbon emissions. Think of it this way: when you build a house, the wood in it stores carbon. In a poor country that wood would have been burned to cook supper or to provide heat, thus releasing carbon into the atmosphere. McCormick shows that economic growth in the United States has increased carbon sequestration in many ways, including improved methods of storing waste, increased forest coverage, and greater agricultural productivity that reduces the acreage of cultivated land. Because rich economies sequester more carbon than poor ones, stored carbon must be subtracted from emissions to determine an economy's net addition to greenhouse gas emissions. McCormick's data show that "rich countries take more carbon out of the air than poorer ones" and that "the growth rate of net carbon emission per person will soon be negative in the United States." .. ". MORE Terry Anderson. Posted by Greg Ransom | TrackBack