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Feeling The Heat: Financial Crises And Their Impact On Global Climate Change

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Author Info

  • VINCENTAS GIEDRAITIS

    (Department of Theoretical Economics Vilnius University, Lithuania)

  • SARUNAS GIRDENAS

    (Department of Sociology,Vilnius University)

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    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.

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    File URL: http://academicpublishingplatforms.com/downloads/pdfs/pieb/volume4/201103171753_01_V4_LITHUANIA_PIEB_Vincentas_Giedraitis_et_al_d.pdf
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    File URL: http://academicpublishingplatforms.com/article.php?journal=PIEB&number=4&article=92
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    Bibliographic Info

    Article provided by Prague Development Center in its journal Perspectives of Innovation in Economics and Business (PIEB).

    Volume (Year): 4 (2010)
    Issue (Month): 1 (February)
    Pages: 7-10

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    Handle: RePEc:pdc:jrpieb:v:4:y:2010:i:1:p:7-10

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    Web page: http://academicpublishingplatforms.com/journal.php?journal=PIEB
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    Related research

    Keywords: Kondratiev waves; Schumpeter; world-systems analysis; environmental economics; global climate change;

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    1. Solomou,Solomos, 1990. "Phases of Economic Growth, 1850–1973," Cambridge Books, Cambridge University Press, number 9780521389044, October.
    2. Deacon, Robert & Norman, Catherine S, 2004. "Does the Environmental Kuznets Curve Describe How Individual Countries Behave?," University of California at Santa Barbara, Economics Working Paper Series qt6gm8164w, Department of Economics, UC Santa Barbara.
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