What’s to blame? The change in the balance of power between large corporations and the government
By Robert Reich, The Guardian
The Clean Air Act of 1970 authorized the government to regulate air pollution.
The Inflation Reduction Act, which Joe Biden signed into law this past week, allocates more than $300bn to energy and climate reform, including $30bn in subsidies for manufacturers of solar panels and wind turbines.
Notice the difference?
The Inflation Reduction Act is an important step toward slowing or reversing climate the crisis. It also illustrates the nation’s shift away from regulating businesses to subsidizing businesses.
From 1932 through the late 1970s, the government mainly regulated businesses. This was the era of the alphabet soup of regulatory agencies begun under Franklin D Roosevelt (the SEC, ICC, FCC, CAB, and so on) culminating in the EPA of 1970.
The government still regulates businesses, of course, but the biggest thing the federal government now does with businesses is subsidize them.
Recent Posts
“Abolish ICE”: Protests Erupt in NYC After ICE Agents Shoot Father With 5-Year-Old Son in Car
Take Action Now “Candidates should seek support from the AI industry at their own peril.”By Amy Goodman, Darializa Avila Chevalier, and Carmen De…
Voters in Key States See AI Campaign Cash as More Politically Toxic Than AIPAC: Poll
Take Action Now “Candidates should seek support from the AI industry at their own peril.”By Jake Johnson, Common Dreams Polling data released…
Everything You’ve Been Told About Lethal Injection Is a Lie
Take Action Now Death by drugs is brutal—and designed for political optics. Christa Pike’s failed execution pulled back the curtain.By Arianna…
British Support For Israel Is Shattering
Take Action Now There is not a single member of the Foreign and Commonwealth Office who believes that Israel, under any leadership, would allow a…