Joe Biden has shown that the green economy makes sense; now it’s time for other leaders to follow
One can’t help but be impressed by the political and economic results of the 2022 Inflation Reduction Act, which earmarked $369 billion for investments to reshape the US energy fabric and address the climate emergency, with tax breaks of up to $7,500 to stimulate EV sales, all with a ten-year horizon and the idea of reducing the country’s emissions by 40%.
Only the wealthiest of nations could afford to fund such an initiative, able to print the banknotes that others accept unquestioningly, the global reserve currency.
This is what has allowed the United States to address a pandemic with no welfare state, by simply sending checks to the homes and bank accounts of all its citizens, money that came, simply, from the Federal Reserve’s printing machine. Obviously, this generated huge inflation, which in June 2022 reached 9.1% and produced sharp rises in the price of commodities such as eggs, dairy or fuel.
What can be done to turn a crisis into an opportunity? Simply use it as a pretext. A large part of the US population harbors believes that the climate emergency does not exist and that it is some kind of pro-green invention to force them to change their way of life. These people would probably protest against a huge allocation of…
