Davos: How About Throwing $14 Trillion Away for "Green" Socialism Projects?

Dire.

An unprecedented $14trn (£8.8trn) greening of the global economy is the only way to ensure long-term sustainable growth, according to a stark warning delivered to political and business leaders as they descended on the World Economic Forum in Davos yesterday.

Only a sustained and dramatic shift to infrastructure and industrial practices using low-carbon technology can save the world and its economy from devastating global warming, according to a Davos-commissioned alliance led by the former Mexican President, Felipe Calderon, in the most dramatic call so far to fight climate change on business grounds....

The extra spending amounts to roughly $700bn a year until 2030 and would provide a much-needed economic stimulus as well as reduce the costs associated with global warming further down the line, said Mr Calderon, who leads the alliance.

I have no problem with other countries pissing away their wealth -- and the hypothetical, ever-dwindling wealth of their children and grandchildren -- on this. If that's what they want.

Be my guest. Chin-chin.

posted by Ace at 05:28 PM

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