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The industrial policy requirements for a global climate stabilization project

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  • Robert Pollin

Abstract

This paper presents an industrial policy approach for advancing a global climate stabilization project. The centerpieces of the project are 1) dramatically improving energy efficiency standards in the stock of buildings, automobiles and public transportation systems, and industrial production processes; and 2) equally dramatically expanding the supply of clean renewable energy sources – primarily solar and wind power – available at competitive prices. Global investment spending in these areas will need to average about 2.5% of global GDP over 2024–2050 to achieve a net zero CO2 emissions global economy by 2050. The paper works within a policy approach similar to that advanced by Malcolm Sawyer that integrated industrial and macroeconomic policies targeted at achieving full employment.

Suggested Citation

  • Robert Pollin, 2021. "The industrial policy requirements for a global climate stabilization project," International Review of Applied Economics, Taylor & Francis Journals, vol. 35(3-4), pages 389-406, July.
    • Handle: RePEc:taf:irapec:v:35:y:2021:i:3-4:p:389-406
    DOI: 10.1080/02692171.2020.1755239
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    Cited by:

    1. Hein, Eckhard & Prante, Franz & Bramucci, Alessandro, 2022. "Financialisation and the potentials for a progressive equality-, sustainability- and domestic demand-led regime: A post-Keynesian simulation approach," IPE Working Papers 192/2022, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    2. Eckhard Hein & Franz Prante & Alessandro Bramucci, 2023. "Demand and growth regimes in finance-dominated capitalism and a progressive equality-, sustainability- and domestic demand-led alternative: A post-Keynesian simulation approach," PSL Quarterly Review, Economia civile, vol. 76(305), pages 181-202.

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