The United States has no national tax or price on carbon dioxide pollution. That doesn't mean it doesn't cost investors anything there or elsewhere, says former Vice President Al Gore. He and David Blood, co-founders of Generation Investment Management, this morning published a new paper explaining the evolution of their thinking on "sustainable capitalism," and how investors can lessen their financial risks from climate change. Gore and I spoke on Oct. 17.
Billionaire Tom Steyer recalls a dinner at the U.S. Treasury in Washington with two senior department officials and six money managers. It was August 2012, and the meal was part of an effort by the agency to keep up with what the financial community was worrying about. The diners discussed China’s slowdown, Federal Reserve policy and other trends affecting the U.S. economy.
Forty years ago this month, President Richard Nixon sharply shifted his economic policy in an interventionist direction with deleterious economic results that continued for a decade and provide lessons for today.
James Hansen, the former NASA climate scientist who first brought climate change to the attention of Congress in the 1980s, stepped down as head of the agency's Goddard Institute for Space Studies last month. That hasn’t stopped him traveling the globe to lobby for climate protection measures, while remaining an adjunct professor for Earth and Environmental Studies at Columbia University.
Former U.S. Secretary of State Condoleezza Rice endorsed Mitt Romney as the Republican presidential nominee at a fundraiser in California last night, saying he understands the nation’s special place in the world.
Head for Camp David. Convene meetings. Take advice from economists, your Cabinet, all the experts. Then put forward a giant new economic program, maybe including some dramatic form of shock therapy that will calm financial markets and create jobs.