Friedman in the NYT on inflection point
March 8, 2009 § Leave a comment
He seems to move in the right direction, but a bit behind most of us. For weeks we have been discussing reset rather than rebond. The problem is, where can this go?
Let’s today step out of the normal boundaries of analysis of our economic crisis and ask a radical question: What if the crisis of 2008 represents something much more fundamental than a deep recession? What if it’s telling us that the whole growth model we created over the last 50 years is simply unsustainable economically and ecologically and that 2008 was when we hit the wall — when Mother Nature and the market both said: “No more.
He moves on to say
Gilding says he’s actually an optimist. So am I. People are already using this economic slowdown to retool and reorient economies. Germany, Britain, China and the U.S. have all used stimulus bills to make huge new investments in clean power. South Korea’s new national paradigm for development is called: “Low carbon, green growth.” Who knew? People are realizing we need more than incremental changes — and we’re seeing the first stirrings of growth in smarter, more efficient, more responsible ways.
But can green hire the millions displaced by say retail sales declines? The new economy of green looks great to the VC types, of which Friedman is by marriage a fellow traveler, but I don’t see the numbers adding up.