Abstract
Although the UN called for a “Global Green New Deal” as a response to the current financial and economic crisis and the “American Recovery and Reinvestment Act of 2009” (ARRA) includes “green” stimulus incentives, there is unfortunately far from a consensus on whether such green incentives will serve as a solution to the current financial and economic crisis. To answer this fundamental question, we will analyze and identify one of the more deeply rooted structural problems of the U.S. economy, the wasteful depletion of finite fossil fuels, and its relationship with three of the major problems facing the U.S. economy – global financial crisis, skyrocketing energy prices, and climate change. We argue that the triple predicament of the existing carbon-based U.S. economy can be ultimately cured by the development and implementation of a comprehensive visionary “green” economic strategy to accelerate the transition to a greener economy.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
UNITED NATION ENVIRONMENT PROGRAMME. Global green new deal - environmentally-focused investment historic opportunity for 21st century prosperity and job generation. London/Nairobi, 22 October 2008.
AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009. Pub.L.111-5, H.R. 1, S. 1.
NICKLAUS, D. Economists say stimulus won’t work, St. Louis Post-Dispatch, 29 January 2009.
ENERGY INFORMATION ADMINISTRATION. International Energy Annual 2006, 31 December 2007.
INTERNATIONAL MONETARY FUND. World Economic Outlook Database, October 2007.
WORLD BANK. GEP2009 - Global Economic Prospects 2009: Commodities at the Crossroads, Washington, DC, 2008.
MORTGAGE BANKERS ASSOCIATION. MBA National Delinquency Survey, 2008.
AMERICAN WIND ENERGY ASSOCIATION. Wind energy grows by record 8,300 MW in 2008. Smart policies, stimulus bill needed to maintain momentum in 2009, 9 January 2009.
CARR, F.M.; BEESE, J.A. “How raising oil prices caused home foreclosures from 2005-2008,” Proceedings of the Allied Academies 15, no. 2(2008): 70-73.
TRIEBSWETTER, U.; WACKERBAUER, J. Integrated environmental product innovation in the region of Munich and its Impacts on company competitiveness. Journal of Cleaner Production 16 (2008): 1484-1493.
ARAGÓN-CORREA, J. A.; HURTADO-TORRES, N.; SHARMA, S.; GARCÍA- MORALES, J. Environmental strategy and performance in small firms: A resourcebased perspective, Journal of Environmental Management 86, no. 1(2008): 88-103.
REINHARDT, F. Market failure and the environmental policies of firms: economic rationales for ‘beyond compliance’ behavior. Journal of Industrial Ecology 3, no. 1 (1999): 9-21.
KING, A.; LENOX, M. Does it really pay to be green? Journal of Industrial Ecology 5(2002): 105-117.
WAGNER, M. Does it pay to be eco-efficient in the European energy supply industry? Zeitschrift für Energiewirtschaft 27, no. 4(2003): 309-318.
WAGNER, M.; SCHALTEGGER, S.; W. WEHRMEYER, S. The relationship between environmental and economic performance of firms: what does the theory propose and what does the empirical evidence tell us? Greener Management International 34(2002): 95-108.
PORTER, M.E.; VAN DE LINDE, C. Green and competitive, Harvard Business Review (September–October 1995): 120–134.
WALKER, H.; DI SISTO, L.; MCBAIN, D. Drivers and barriers to environmental supply chain management practices: lessons from the public and private sectors, Journal of Purchasing and Supply Management 14(2008): 69–85.
SHARMA, S.; ARAGON-CORREA, A. A Corporate Environmental Strategy and Competitive Advantage (Cheltenham: Edward Elgar Publishing, 2005).
ORSATO, R. Competitive environmental strategies: when does it pay to be green? California Management Review 48, no. 2(2006): 127–143.
SCOTT, M.; TSCHANG, C.-C. Clouds over the Solar Power Industry. Business Week Online (December 18, 2008): 12.
UNITED NATION ENVIRONMENT PROGRAMME. Green jobs: Towards decent work in a sustainable, low-carbon world, UNEP/ILO/IOE/ITUC, London/Nairobi, September 2008b.
CAREY, J. A hazy forecast for green jobs: Can Obama's energy plan turbocharge America’s eco-friendly businesses? Business Week (8 December 2008): 30-32.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2009 Springer London
About this paper
Cite this paper
Yang, P., Chen, I. (2009). Greening Economy as a Key Solution to the Economic Crisis. In: Chou, SY., Trappey, A., Pokojski, J., Smith, S. (eds) Global Perspective for Competitive Enterprise, Economy and Ecology. Advanced Concurrent Engineering. Springer, London. https://doi.org/10.1007/978-1-84882-762-2_20
Download citation
DOI: https://doi.org/10.1007/978-1-84882-762-2_20
Publisher Name: Springer, London
Print ISBN: 978-1-84882-761-5
Online ISBN: 978-1-84882-762-2
eBook Packages: EngineeringEngineering (R0)