Major hurricanes, fires and floods set a new record for the cost of damage in the U.S. in 2017. Setting aside the human misery caused, natural disasters tend to provide a short-term economic stimulus, because it is rare time that politicians tend to set aside their differences and borrow or print money as necessary to solve the problem. In the longer term though, I can’t help thinking that this is one way climate change can make us poorer, because we will be spending money and effort dealing with a higher rate of disasters that we could otherwise be spending on more productive work, investment or innovation. The other way climate change can make us poorer is just the long, slow grind of rising energy, food and water prices. I can imagine these two trends working together, where we are adapting to that long, slow grind, but when the disasters hit we no longer have the ability to recover completely like we used to. This is not unlike a stressed ecosystem that manages to hang on until that fire or flood hits, but then does not have the soil conditions or the seed bank or whatever to rejuvenate itself in the same spot after it gets wiped out.