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NEW Life at the Singapore Mall READ HERE

How do urbanites cope with hot and humid weather?  In the case of Singapore, such people go to the mall. Today, I walked the crowded streets of Orchard Road.   With 22 malls to choose from, the capitalist consumer will find something to buy.  The paradox of thrift has no chance to hold when consumers are confronted with abundant choice. It is true that I did witness John Ham decide not to buy a $800 shirt.  As an empiricist, I wrote down this data point and I will enter it into my stata data set for subsequent analysis.

This photo shows a picture of the bustling activity taking place inside the mall.  The air conditioning is cranked up and the people happily go about their business enjoying leisure, walking, and talking while shopping.   This is how successful people cope in our hotter urban future.

 
How does the developing world cope?  Now we are back to the growth imperative.  Such nations must open up to free trade and focus on their comparative advantage.  Climate change creates a necessity for removing crazed trade barriers that protect powerful domestic interest groups.  In this sense, climate change may actually accelerate the growth of the world economy as it creates a nudge to deviate from inefficient status quo policies (such as barriers to international trade and domestic protectionism).

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