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In sharp contrast to denier’s claims that action against global warming will trigger economic catastrophe, a new study has concluded it would actually be cheaper to cut greenhouse-gas emissions than to suffer the consequences of a changing world.

In fact, the report by economists at Tufts University warns, “The longer we wait, the more painful and expensive the consequences will be.”

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The steps urged by the United Nations-sponsored scientific panel to curb carbon emissions signal changes as comprehensive as the journey from gaslight and the horse-and-buggy to light bulbs and automobiles 100 years ago.

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While the skeptics unanimously overstate the costs of climate protection, a new study calculates that the costs of climate inaction will cost the global economy trillions of dollars.