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
Trump Intensifies Threats Against Cuba
Take Action Now The US president warned Cuban authorities that if they do not engage in dialogue, it will soon be “too late.” Cuban authorities have…
‘Uninvestable’: Oil Execs Rebuff Trump’s Demands For $100bn Investment In Venezuela
Take Action Now The US Energy Secretary denies ‘stealing’ Venezuelan oil, despite a plan to hold revenues in offshore accounts under US…
Want To Stop ICE? Go After Its Corporate Collaborators
Take Action Now ICE can’t function without help from the private sector. So we should force the private sector to stop helping.By Eric Blanc,…
Organized Labor Lambastes Trump’s Attack on Venezuela
Take Action Now Unions and international labor federations argue that it’s the same billionaires that want to run Venezuela who keep us working…