FEELING THE HEAT: FINANCIAL CRISES AND THEIR IMPACT ON GLOBAL CLIMATE CHANGE

Vincentas Giedraitis and Sarunas Girdenas
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Sarunas Girdenas: Department of Sociology,Vilnius University

Perspectives of Innovation in Economics and Business (PIEB), 2010, vol. 4, issue 1, 7-10

Abstract: This interdisciplinary paper uses world-systems analysis as a theoretical framework to argue that both the 1870s, 1930’s economic depressions reduced mean global temperatures. As global consumer demand fell, factories worldwide began producing less commodities and, as a result, emitted less greenhouse gasses. We find that in both instances there is evidence to support the hypothesis that financial crises lead to cooler temperatures.

Keywords: Kondratiev waves; Schumpeter; world-systems analysis; environmental economics; global climate change (search for similar items in EconPapers)
JEL-codes: N22 N50 Q54 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (8)

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Journal Article: Feeling the heat: Financial crises and their impact on global climate change (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pdc:jrpieb:v:4:y:2010:i:1:p:7-10

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