People shouldn’t count on the emerging green economy to pull the world out of recession, Matthew E. Kahn writes for Foreign Policy. The recession is about the bursting housing bubbles, overleveraged banking sectors, and other problems that won’t be solved with solar panels. Cap-and-trade systems and renewable energy sources are important for environmental reasons, but Kahn cold throws water on the green technology as economic panacea ideal. “Anti-carbon regulations will simultaneously create and destroy jobs,” Kahn writes, but “a little creative destruction will likely be a good thing.”
