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If President Obama "Twittered" - via @johnsonLAB

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FT.com / Comment / Opinion - Obama’s chance to lead the green recovery

The economic crisis will leave the US and other economies greatly weakened and it will be imperative to increase efficiency. One area in which there is ample room for improvement is in the energy efficiency of businesses, consumers and the government.

According to a recent paper by the Peterson Institute, spending $10bn (€7.9bn, £7.1bn) to insulate US homes and federal buildings could create and sustain up to 100,000 jobs between 2009 and 2011, while saving the economy from $1.4bn to $3.1bn a year between 2012 and 2020.

This type of investment and those in green technology and infrastructure would not only provide a short-term stimulus but also improve the US competitive position. As the world moves to a low-carbon economy, there will be a competitive advantage for those who embrace these technologies.

via ft.com

By Joseph Stiglitz and Nicholas Stern
Published: March 2 2009 19:16 | Last updated: March 2 2009 19:16

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Filed under  //   crisis   economy   investment   joseph stiglitz   low-carbon   nicholas stern   obama   technology   united states  

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