…it could destabilize capitalism. Some argue that the success of capitalism can be found in its ability to keep the costs of production low (wages, inputs and taxation). A popular way to escape taxation lies in externalizing the costs of production, by not being held liable for the pollution caused for instance. If sudden regulatory measures were to be implemented forcing produces to internalize the costs of pollution, capitalism would have to cut the costs of personell or resources. Natural resources are however subject to the principle of scarcity. The scarcer they become, the higher their costs turn out to be. This scenario would unfold if no substitute resources were to be found and if no technology were to be developed that used resources more intensively. Assuming a more pessimistic scenario in which resource prices increase and governments attempt to tackle the threat of global warming by forcing producers to internalize the costs of production, the capitalistic mode of production would have to resort to wage cuts. Consequence of such a measure could be increased social instability
.…it could affect food security in regions hit by extreme weather events. Research has shown that there is a negative correlation between global warming and food availability, the ability of agricultural systems to meet demand for food. The same negative correlation has been observed with regards to food stability, the stability of food supply. This happens due to extreme weather events compromising the quality and quantity of the harvests. On the other hand, the term food utilization is used to refer to the ability of individuals to access safe food. Increasing temperatures associated with global warming could foster bacterial and viral growth that could compromise the safety and quality of food. Besides, it has been observed that extreme weather events in one region can have a worldwide impact on food prices. For example, the 2012 drought in the USA, inflated the price of crop worldwide.
…it could set off migration waves. Environmental refugee is a recently coined term, which is used to refer to people who are forced to migrate due to extreme weather events. Unlike political refugees, environmental refugees seem to have no legal backup in international and national law. On a regional level, global warming is associated with an increased likelihood of extreme weather events such as abnormal heatwaves. Needless to say, an extreme drought in Subsaharan Africa could set off a wave of migrants that attempts to fulfill it basic needs (food and water) by moving to a neighboring country.