Sunday, May 16, 2021

The freedom of the press still furnishes that check upon government which no constitution has ever been able to provide – Chicago Tribune.

Tags Market based mechanisms

Tag: market based mechanisms

What the climate change chat skimmed over

 

Why is it that coal seam gas is being marketed as an alternative to coal in the transition to clean renewable energy? Haven’t the results of the industry in US been very detrimental to water, soil and quality of life for those in its path? These are a couple of questions that didn’t get aired at the visiting Climate Commission’s climate change chat but were aired quite properly in the conversations I had with people following it.

One friend was exasperated by the continued dominance of neoliberal economics in the conversation around adaptation to climate change. Why approach the problem of climate change with market based mechanisms? When quite clearly from the latest market ‘hiccups’ the system is profoundly flawed.

The ‘market’ is not omni-prescient as the recent government interventions into its realm demonstrate. Not to say that market based mechanisms don’t have a role to play as for business and industry they evidently speak the same language and quite fluently. But in terms of social justice that language loses in translation whatever lucidity it had for industry. As it filters through the system the market mechanism simply reinforces the existent power plays and hedged up system.

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