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  1. I've long said that public debt to fund socially useful investment was good policy today (or would have been good policy if we hadn't spent so much public debt capacity on bailing out the banksters). I've long written about how this could happen through an energy/transport reconversion plan which would have lots of other positive externalities;

  2. at some point, you can only justify more debt if it is used for investing purposes, and not just to support consumption. Consumption has to be supported by reallocation of the pie in a way which is different from today. To answer DoDo's point above, there is a need for a real reshaping of the tax system. A lot of that could only happen with significant coordination between at least the EU and the US.

Wind power
by Jerome a Paris (etg@eurotrib.com) on Thu Jun 10th, 2010 at 10:25:58 AM EST
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