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Shifting Gears: Transcending Conventional Economic Doctrines to Develop Better Electric Vehicle Batteries

Shifting Gears: Transcending Conventional Economic Doctrines to Develop Better Electric Vehicle Batteries

Full Title: Shifting Gears: Transcending Conventional Economic Doctrines to Develop Better Electric Vehicle Batteries
Author(s): Clifton Yin, Matthew Stepp
Publisher(s): Information Technology & Innovation Foundation
Publication Date: October 1, 2012
Full Text: Download Resource
Description (excerpt):

Like all economic policy debates in the United States, energy and climate  policy is shaped by competing “economic doctrines.” Those who subscribe  to the neoclassical economic doctrine see climate change as a relatively  straightforward problem caused by failing to charge polluters of  greenhouse gases (GHG) for the full costs of their emissions. Once the  price is right, the theory holds, the market will respond appropriately (if it  hasn’t already) and develop the needed solutions. By contrast, those  informed by neo-Keynesian perspectives favor a more direct response,  such as subsidizing renewable energy or requiring its use. Finally, those  supporting the innovation economics doctrine argue that price signals,  regulation and subsidies are insufficient to drive clean energy  transformation. Instead, innovation policies, such as investments in  research and the development and commercialization of next-generation  alternatives, are the best solution. Like all economic policy debates in the United States, energy and climate  policy is shaped by competing “economic doctrines.” Those who subscribe  to the neoclassical economic doctrine see climate change as a relatively  straightforward problem caused by failing to charge polluters of  greenhouse gases (GHG) for the full costs of their emissions. Once the  price is right, the theory holds, the market will respond appropriately (if it  hasn’t already) and develop the needed solutions. By contrast, those  informed by neo-Keynesian perspectives favor a more direct response,  such as subsidizing renewable energy or requiring its use. Finally, those  supporting the innovation economics doctrine argue that price signals,  regulation and subsidies are insufficient to drive clean energy  transformation. Instead, innovation policies, such as investments in  research and the development and commercialization of next-generation  alternatives, are the best solution.

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