Avoiding a Great Depression in the Era of Climate Change

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DC Field	Value
dc.identifier	ECF_chapter_4177
dc.contributor.author	Bardsley Nicholas
dc.title	Avoiding a Great Depression in the Era of Climate Change
dc.type	Chapter
dc.language.iso	en
dc.description.abstract	If loan issue falls faster than repayments, money becomes increasingly scarce, leading to deflationary pressures and unemployment. Central banks have responded by ‘quantitative easing’, a regressive form of money printing which buys off the national debt. Such credit could instead finance green infrastructure, health and social care, a basic income, and debt relief. Fiscal policy expansion which is not monetised, in contrast, results in crowding out. Given the ecological crisis caused by greenhouse emissions, the aim ought not to be resumption of business as usual. A social-ecological response to the crisis would deploy a mixture of public credit creation deployed in prioritised sectors, progressive taxation, and direct curbs on greenhouse emissions.
dc.relation.ispartof	Innovation in Business, Economics & Finance
dc.publisher	Edizioni Ca’ Foscari - Digital Publishing, Fondazione Università Ca’ Foscari
dc.issued	2020-07-31
dc.dateAccepted	2020-06-30
dc.dateSubmitted	2020-06-03
dc.identifier.uri	http://edizionicafoscari.it/en/edizioni4/libri/978-88-6969-443-1/avoiding-a-great-depression-in-the-era-of-climate/
dc.identifier.doi	10.30687/978-88-6969-442-4/020
dc.identifier.eissn	2784-8574
dc.identifier.isbn
dc.identifier.eisbn	978-88-6969-442-4
dc.rights	Creative Commons Attribution 4.0 International Public License
dc.rights.uri	http://creativecommons.org/licenses/by/4.0/
item.fulltext	with fulltext
item.grantfulltext	open
dc.peer-review	yes
dc.subject	Central Bank
dc.subject	Central Bank
dc.subject	Climate change
dc.subject	Climate change
dc.subject	Fiscal policy
dc.subject	Fiscal policy
dc.subject	Great Depression
dc.subject	Great Depression
dc.subject	Quantitative Easing
dc.subject	Quantitative Easing
dc.subject	Unemployment
dc.subject	Unemployment

Chapter
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Avoiding a Great Depression in the Era of Climate Change

Nicholas Bardsley University of Reading, UK

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abstract

If loan issue falls faster than repayments, money becomes increasingly scarce, leading to deflationary pressures and unemployment. Central banks have responded by ‘quantitative easing’, a regressive form of money printing which buys off the national debt. Such credit could instead finance green infrastructure, health and social care, a basic income, and debt relief. Fiscal policy expansion which is not monetised, in contrast, results in crowding out. Given the ecological crisis caused by greenhouse emissions, the aim ought not to be resumption of business as usual. A social-ecological response to the crisis would deploy a mixture of public credit creation deployed in prioritised sectors, progressive taxation, and direct curbs on greenhouse emissions.

Published

July 31, 2020

Accepted

June 30, 2020

Submitted

June 3, 2020

Language

ISBN (EBOOK)

978-88-6969-442-4

Keywords: Central Bank • Great Depression • Quantitative Easing • Fiscal policy • Unemployment • Climate change

permalink: http://doi.org/10.30687/978-88-6969-442-4/020

Copyright: © 2020 Nicholas Bardsley. This is an open-access work distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction is permitted, provided that the original author(s) and the copyright owner(s) are credited and that the original publication is cited, in accordance with accepted academic practice. The license allows for commercial use. No use, distribution or reproduction is permitted which does not comply with these terms.

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