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
Sen. Bernie Sanders Opposes Unconditional Military Aid To Israel In Funding Bill
Take Action Now An additional $10.1 billion in “unconditional military aid” to Israel would be “irresponsible,” the senator…
COP28 Has More Fossil Fuel Lobbyists In Attendance Than Ever
Take Action Now There are 2,456 fossil fuel interests at this year’s U.N. climate summit, nearly four times more than any past year, according…
“The Madness Of Militarism,” The 2023 Ellsberg Lecture By Norman Solomon
Take Action Now Norman Solomon reflects on ‘the madness of militarism’ in the Ellsberg Lecture By Norman Solomon, Nation of Change In…
The U.S. Has Given Israel An Endless Supply Of Smart Bombs
Take Action Now Nearly three years ago, Congress gave Israel a pass to stockpile precision-guided bombs “without regard to annual limits.” An inside…