Live now: The inside story of the Inflation Reduction Act, told by two insiders who helped design the bill: and
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Secular Stagnation + Climate Change + Rise of China = Crisis of hegemony in democratic capitalism 🤡
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“All deals rely on two competing visions of the value of an asset. Buyers and Sellers, Bulls and Bears. In this case, that asset is the composition of America’s future political economy.”
: Polluters and green insurgents make competing bets on future US energy mix.
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IRA buys off the big bosses in top sectors blocking climate action: Fossil Fuels, Autos, Real Estate, Meat. Meanwhile it unleashes a powerful new set of green interest groups. Will they be existential threat to FARM?
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Replying to @policytensor @tedfertik and 3 others
Loads of good stuff focus indvdly on the 4 F.A.R.M sectors that beat back mitigation & adaptation:
𝙁ossil-fuel industry, 𝘼uto firms, 𝙍eal estate developers, 𝙈eat companies. Each has its own PolEcon & geography; each soln requires its own distribution of power&pain ie politcs
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: What about the unintended consequence of IRA, CHIPS, and industrial policy: Providing Republicans an opportunity to embrace the energy transition? Specifically, moving auto production to anti-union states in the South, mineral extraction, and carbon capture?
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: “There's a deepening culture war around the energy transition: Take your hands off my burgers, oil, and cars. So, just don’t say ‘climate change.’ Say energy independence. Jobs. Savings. And people sign up.”
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on GOP green industrial policy wins:
-Wind and solar jobs are mostly in red states
-Big landowners and farming coalitions get major rents from wind and solar leasing
-The South is no longer the Bible Belt—it’s the Battery Belt.
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Will be recommending this to all high schooler econ101. So clear. Thank you