The Great Drought of 2012 has yet to come to an end, but we already know that its consequences will be severe. With more than one-half of America's counties designated as drought disaster areas, the 2012 harvest of corn and other food staples is guaranteed to fall far short of predictions.
If a community runs out of water, it affects everyone in the area, even companies that were good stewards of the resource. The collective nature of these resources means that everyone shares both the responsibilities for their protection and the risks of their scarcity.
During natural disasters, society regularly turns to the state for help, which means such immediate crises are a much-needed reminder of just how important a functional big government turns out to be to our survival.
The biggest long-term threat to the U.S. economy isn't government over-regulation, high taxes, or even the deficit. It's climate change. But you won't hear this from any of the presidential candidates, or the media covering their campaigns.