Brian Davey's blog

Brian Davey (Nottingham, Strategy for Losers): Green New Deals are clearly the new big idea. Governments need to spend to avert the worse kind of slump and it makes sense for their expenditure to focus on  renewables and energy efficiency. At the same time the finance system needs greater regulation.

This is instantaneously the new conventional wisdom. The beginnings of an alliance created by the New Economics Foundation (NEF) for a Green New Deal appears to be pushing at an open door. The United Nations Environment Programme are calling, apparently, for something similar.

But are these ideas radical enough for the problems that we face? The NEF alliance has created a draft programme about the banking crisis, peak oil and climate change that is effectively relating the finance and money system to the limits to growth. However it leaves out that key idea and  its implications for the banking and finance system.