Аннотация:Discussion on problems of climate and environmental changes i.e. global warming has inundated in recent years. Every major newspaper publishes multiple editorials or op- ed pieces on the topic, the broadcast media and researchers regularly discuss the issue, and thousands of Web pages and blogs provide definitions and information and suggest causes and consequences of action and inaction. Under the situation why are we adding to congestion on the subject? Because the analysis of past has much to contribute, especially in understanding prospects of adapting to climate change, which has received relatively little study and comment relative to the standing it should take in the debate [Gary D. Libecap and Rechard H. Steckel, 2011]. At the outset, it is to be noted that in the present paper science of climate change is not evaluated as author is not the expertise to contribute on this matter but the paper respond to economic effects of the climate and environmental changes.
