ELON MUSK, BOYAN SLAT, AND GREEN GROWTH

Donghyun Park

Chapter 67 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 309-312 from World Scientific Publishing Co. Pte. Ltd.

Abstract: A Green Valley or a Silicon Valley for startups that specialize in products and technologies that help to protect the environment, is more than just a pipe dream. There is a widespread belief that there is a difficult tradeoff between economic growth and environmental protection. That is, a country can achieve a cleaner environment only by sacrificing some growth or, conversely, a country can grow faster only at the cost of higher environmental costs. Many businesses view environmental regulations as a burdensome additional cost, which is why they tend to oppose those regulations. But upon closer thought, the growing demand for a cleaner environment also presents opportunities for businesses. In particular, since environment-friendliness is now a key dimension of competition, entrepreneurs and firms that produce greener products will gain market shares at the expense of those that do not. Moreover, just as demand for faster and better transportation gave rise to the railway, automobile and airplane, we can expect the demand for cleaner environment will give rise to entirely new products and industries, fostering growth in the process. Green may be good for growth, after all!…

Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers)
JEL-codes: A1 F00 F6 N2 P16 (search for similar items in EconPapers)
Date: 2019
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