A Green New Deal
Friday, August 1st, 2008The New Economics Foundation (NEF) publishes some good ideas and often some bad ideas (or should that be unworkable rather than bad?).
However, the latest notion from the self-styled ‘think and do tank’ is very interesting.
They propose a ‘Green New Deal’ akin to Roosevelts New Deal implemented in the US during the 1930’s depression. Full details of their proposals (and who drafted them) can be found here.
There main proposals include;
- “Massive investment in renewable energy and wider environmental transformation in the UK, leading to,
- The creation of thousands of new green collar jobs
- Reining in reckless aspects of the finance sector – but making low-cost capital available to fund the UK’s green economic shift
- Building a new alliance between environmentalists, industry, agriculture, and unions to put the interests of the real economy ahead of those of footloose finance”
All interesting stuff I think, but as always how its implemented would be the challenge. Setting aside the alarmist (but possibly true) 100 months to live stuff, it’s an interesting contribution to a wider debate.
Are we going to sleepwalk into the abyss always doing things the way we have always done them or are we prepared to change?
Bloomberg news this morning had an analyst on who was talking not about recession but about depression, just like the 1930’s. So perhaps a New Deal will be required.
