Yet more proof that government mandates are not apt at solving problems, be it creating jobs or cutting carbon emissions. A study published today by International Policy Network, titled Seven Myths about Green Jobs reveals the hidden-costs of “green investments”. Resources will be wasted and growth will be slowed, while there is no guarantee that the environment will benefit.
The coalition government has announced a whole range of green measures to both cut emissions and create jobs: from low-carbon business support programmes to a Green Investment Bank. We can expect the initiatives to be cemented in legislation by this autumn, and rolled out through the country by 2012. After all, the Prime Minister pledged to deliver “the greenest government ever”. And best of all, Clegg assures us that he’ll impress us by “quietly getting on with the job”.
Sound too good to be true? That’s because it is.
What we are likely to see are more bureaucratic jobs, more red tape. And yet more resources siphoned away from productive sectors of the economy.
In fact, many green job proposals actively push for resources to be taken away from highly-productive activities. A United Nations report even calls for fruit to be picked by hand, rather than by machine.
As for the cost? Today’s “green investments” will just add to our already colossal national debt. Even the United Nations admits that a full-fledged green transition – the type they dream about – could cost hundreds of billions, maybe trillions of dollars.