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2013 | OriginalPaper | Chapter

The Political-Economics of the Green Industrial Revolution: Renewable Energy as the Key to National Sustainable Communities

Authors : Woodrow W. Clark II, Xing Li

Published in: Renewable Energy Governance

Publisher: Springer London

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Abstract

A Green Industrial Revolution (GIR) consists of renewable energy, smart green sustainable communities, water, and waste along with advanced technologies that are cost-effective in implementing it. The GIR started in China and the EU, but has taken the USA by surprise. The EU, South Korea, and Japan had started a GIR over two decades ago. The GIR can be reflected in the significant paradigm change from the fossil fuels and nuclear power plants of the Second Industrial Revolution (2IR), which had dominated global economics since the late 1890s, to renewable energy in the late 1990s, which has grown, and is growing at an extraordinarily rapid rate into the twenty-first century. While the US had invested and even began to commercialize some of the technologies developed into mass markets by the EU and Japan, it failed in the last two decades to move ahead of corporate vested interests in maintaining the 2IR in large part due to ignoring and even politicizing the science about climate change being caused by humankind. The problem today in the GIR is that the economic stimuli that helped the 2IR emerge into being dominant around the world was based on government basic economic aid such as land grants (oil drilling), mass transportation (rail roads to transport coal and highways today) infrastructures, tax breaks that are still in place today from over a 100 years ago, and finally the entire auto industry that was once hybrid, electric, and even agriculture oil juice-based (Henry Ford, as the farmer) to dependency on fossil fuels especially oil and now natural gas. The GIR needs these same kinds of government financial support mechanisms. The United States of America (USA) needs to make these significant economic paradigm changes now to become a part of the GIR.

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Footnotes
1
There are other perspectives and viewpoints about energy and the role of renewable energy. Each of these perspectives are rooted in the economics of groups (companies) and nations who have build strong vested financial interest in fossil fuels and nuclear power. Today, there are growing vested interests in renewable energy. Even within the last two decades, fossil fuel companies started making investments in the renewable energy sector. However, they are very limited and rarely a main part of the corporate portfolio. See Brown 2008, Shields 2010 and McNall et al. 2011.
 
2
This term is rooted in Adam Smith and those economists (the vast majority) that followed his thinking, which argues that there are supply and demands which need to be balanced in order for any economic system to function (Clark and Fast 2008).
 
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Metadata
Title
The Political-Economics of the Green Industrial Revolution: Renewable Energy as the Key to National Sustainable Communities
Authors
Woodrow W. Clark II
Xing Li
Copyright Year
2013
Publisher
Springer London
DOI
https://doi.org/10.1007/978-1-4471-5595-9_22