Finance and the Macroeconomics of Environmental Policies

by Arestis, Philip; Sawyer, Malcolm

• ISBN13: 9781137446121
• ISBN10: 1137446129
• eBook ISBN(s): 9781137446138
• Format: Hardcover
• Copyright: 2015-01-23
• Publisher: Palgrave Macmillan

Summary

The International Papers in Political Economy (IPPE) series explores the latest developments in political economy. This eleventh volume presents a collection of eight papers, examining current and previous environmental policies, and suggests alternative strategies for the future. Addressing resource depletion and climate change are pressing priorities for modern economies. Planning energy infrastructure projects is complicated by risk and uncertainty, as such clear and coherent government policies have a crucial role to play.
The authors examine the problems with theoretical frameworks in terms of their environmental impact, such as New Consensus Macroeconomics, Post Keynesian and Derridean thinking, and emphasising New Thing in Economics. Reflecting on the current global crisis, this book argues that it is a direct consequence of a development model that is unsustainable from the financial, economic, social and environmental points of view. In addition the authors explore the problems of financing constraints, risk and uncertainty for the effective planning and construction of renewable energy infrastructure, and consider the links between the financial system, economic growth and environmental pollution and damages.

This book offers detailed analysis and informed comment on the future of environmental policies. It is essential reading for students, scholars, researchers and policy-makers interested in environmental policy.
 
The International Papers in Political Economy (IPPE) series explores the latest developments in political economy. This eleventh volume presents a collection of eight papers, analysing the macroeconomics of ecological sustainability and environmental policies and the relationships between the financial system, economic growth and environmental pollution.
The contributions range from a critical assessment of the absence of environmental considerations from the New Consensus Macroeconomics through to the development of Post Keynesians, institutional and Derridean analyses for ecological sustainability; they are also within the spirit of New Thinking in Economics. In addition, they cover the financing of a low-carbon energy future, the search for sustainable growth and the interrelationships between the financial system, neoliberalism and sustainable development.
This book offers detailed analysis and informed commentary on the macroeconomics and financial analyses of environmental policies. It is essential reading for students, scholars, researchers and policy makers interested in ecological sustainability.

Author Biography

Philip Arestis is Director of Research, Cambridge Centre for Economics and Public Policy, Department of Land Economy, University of Cambridge, UK, and Professor at the Department of Applied Economics V, University of the Basque Country, Spain. He is also Distinguished Adjunct Professor of Economics, University of Utah, USA; Research Associate, Levy Economics Institute, New York, USA; Visiting Professor, University of Leeds, UK and Professorial Research Associate School of Oriental and African Studies (SOAS), University of London, UK. He also served (2005–13) as Chief Academic (External) Adviser to the UK Government Economic Service (GES) on Professional Development in Economics. He is holder of the 'Queen Victoria Eugenia' award of the British Hispanic Chair of Doctoral Studies, and was awarded 'homage' by the Brazilian Keynesian Association (AKB) for his contribution to the spread of Keynesianism in Brazil.

Malcolm Sawyer is Emeritus Professor of Economics, Leeds University Business School, University of Leeds, UK, He is the principal investigator for the five year 15-partner project Financialisation, Economy, Society and Sustainable Development (www.fe-sed.eu) funded by the European Commission Framework Programme 7 (contract number : 266800). He is managing editor of the International Review of Applied Economics, on the editorial board of a range of journals and editor of the series New Directions in Modern Economics. He has published widely in the areas of post Keynesian and Kaleckian economics, industrial economics and on UK and European economies.

Table of Contents

1. The Absence of Environmental Issues in the New Consensus Macroeconomics is only One of Numerous Criticisms; Philip Arestis and Ana Rosa González-Martínez
2. The Neoliberal Trajectory, the Great Recession and Sustainable Development; Alessandro Vercelli
3. The Macroeconomics and Financial System Requirements for a Sustainable Future; Giuseppe Fontana and Malcolm Sawyer
4. Financing Energy Infrastructure; Michelle Baddeley
5. The Effects of the Financial System and Financial Crises on Global Growth and the Environment; Annela Anger and Terry Barker
6. Dualisms in the Finance-Economy-Climate Nexus: An Exploratory Essay Drawing on Derridean Thinking; S. Serban Scrieciu
7. The 'Dark Matter' in the Search for Sustainable Growth: Energy, Innovation and the Financially Paradoxical Role of Climate Confidence; Jean-Charles Hourcade, Michael Grubb and Aurélie Méjean
8. On Climate Change and Institutions; Ikerne del Valle and Kepa Astorkiza