Download Climate Innovation: Liberal Capitalism and Climate Change by Neil E. Harrison, John Mikler (eds.) PDF
By Neil E. Harrison, John Mikler (eds.)
A entire exam of the lack of liberal capitalism to generate the technological strategies essential to hinder harmful weather swap. The case is made for the necessity for institutional evolution to force the weather innovation, and the possibility of weather innovation in an more and more economically interconnected world.
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Additional info for Climate Innovation: Liberal Capitalism and Climate Change
In the case of climate innovation, as with technological innovation more generally, if it is not driven by immediate market imperatives, the state must play a leading role in moving it forward. The above discussion illustrates some of the key ways in which national institutional variations suggest different paths to climate innovation, and the introduction of goods and services embodying new technologies. These should be the focus for study rather than universal claims about the ‘ideal’ policy choices and approaches to take to mitigate climate change.
Yet, management autonomy in US ﬁrms is high because of dispersed shareholdings and favorable corporate governance rules, except when occasional bursts of shareholder activism temporarily limit them (as after the failures of Enron and World Com). US culture supports and rewards risk taking but entrepreneurial activity may be less effective, because it is less patient for climate innovation than for market innovations. Hence, our subjective score of ‘medium’ for uncertainty acceptance. 17 From our analysis, we identify four paradoxes that may impact clear institutional guidance for climate innovation.
This analytical scheme is then applied to the transitional renewable energy policy period between 2004–2012 in the state of Colorado. This period starts with the adoption of a renewable energy portfolio in 2004 and includes the ‘new energy economy’ period from 2007–2010 as well as the years since. Looking at three key turning points this paper interprets the ‘new energy economy’ strategy using the analytical scheme developed and identiﬁes the political and social institutions that frame this transition.