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But for certain, as any good hobo knows, the freight trains didn't stop running during the Depression.

And neither will your wind turbines stop spinning, but how many new loans for the purchase of new freight trains were made during the Depression?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Wed Sep 24th, 2008 at 04:13:55 AM EST
[ Parent ]
This is, of course, one of the great dangers: a depression could rob us of the capital and capacity required to refit the economy just when we most need it and drop the price of oil to a level that makes greening seem economically unnecessary.

Good luck selling wind turbines when the unemployment rate sky-rockets - unless someone persuades governments to indulge in a huge investment programme in the face of US$40 oil.

by Colman (colman at eurotrib.com) on Wed Sep 24th, 2008 at 04:28:38 AM EST
[ Parent ]
Good luck selling wind turbines when the unemployment rate sky-rockets - unless someone persuades governments to indulge in a huge investment programme in the face of US$40 oil.
Reconstructing the energy and transportation sectors and educating the next generation of scientists and engineers with incentive scholorships would be a 21st Century equivalent of the '30s WPA and similar projects along with the post WWII GI Bill.

As long as we do these things within our economy and don't require imported goods we should be readily able to finance it.  It is primarily a question of vision and political will.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Sep 24th, 2008 at 08:55:36 PM EST
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