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Foreign Policy Logo 'FP'

Can Elites Start the Climate Revolution?

Financial capital and the courts are quietly creating the conditions to stop global warming—if politics does its part, too. Will the spring of 2021 prove to be a pivotal moment in the climate crisis? Last week, the management of both Exxon Mobil and Chevron lost battles with green activist shareholders. A third oil major, Shell, was ordered by a Dutch court to dramatically step up its climate effort. This followed a damning judgment in April by the German supreme court on Berlin’s plan for decarbonization. The International Energy Agency (IEA), formerly a bastion of the fossil fuel industry, laid out a demanding path to net-zero greenhouse gas emissions. And to cap it all off, Ford launched its F-150 electric truck. It is hard to exaggerate the symbolic significance of these events. The F-150 is the most widely used vehicle in the United States. Eight percent

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Centre for European Reform

Learning to Live with Debt

At the time of writing, the pandemic is continuing to take a heavy toll on the European economy, and even though an economic collapse has been prevented, Europe’s growth prospects are far from encouraging. Policy-makers across Europe have supported firms, workers and families through furlough schemes, income support and loans – often with remarkable pragmatism – and are continuing to provide new forms of aid. The European recovery fund offers €750 billion in grants and loans to poorer and harder-hit countries. But policy-makers in Europe are reluctant to use the full arsenal of the government balance sheet to spur a full and swift recovery in the way the new US administration is doing, as the fear of higher public debt starts to dominate the European debate (again). In the aftermath of the Global Financial Crisis of 2008 and the ensuing crisis in the eurozone, those

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Social Europe Logo

The debt hawks are flapping their wings

The question of public debt hangs over Europe’s future. Brussels prefers to talk about other things—the Green Deal or social Europe. The European public is more urgently interested in vaccines, lockdowns and immigration. But nothing is closer to the heart of power in the European Union than public debt. To even mention it brings back painful memories of the eurozone crisis. After the shock of 2020, the debts are even bigger. And, like it or not, the debate is beginning again. More than any other issue it will decide the future of Europe. The Stability and Growth Pact has undergone many stages of evolution since the Maastricht treaty was signed in 1992, but two fixed points remain. The ratio of public debt to gross domestic product of EU member states should not exceed 60 per cent and annual budget deficits should not exceed 3 per cent. Those

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Heinrich-Böll-Stiftung

Was ist die grüne Erzählung von Politik und Emotionen?

Das große Rad drehen: Ökonomie und Psychologie der ökologisch-sozialen Transformation Moderiert von Ellen Ueberschär (Heinrich-Böll-Stiftung) entwickeln Adam Tooze (Columbia University NY), Robert Habeck (Bündnis 90/Die Grünen), Maren Urner (HMKW Köln) und Jens Südekum (HHU Düsseldorf) finanzökonomische sowie sozialpsychologische Strategien, um die ökologisch-soziale Transformation in der Breite der Gesellschaft zu verankern.

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Corona - das Virus und die Wirtschaft

Bitcoin ist ein Krisensymptom

Gerade erst hatte die Kryptowährung Bitcoin einen Rekordwert von über 60.000 Dollar erreicht, inzwischen hat sich aber im Vergleich dazu ihr Wert in etwa halbiert. Auslöser dafür ist unter anderem der Tesla-Chef Elon Musk. Darüber spricht Lisa Splanemann mit Wirtschaftshistoriker Adam Tooze.

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FEPS

Europe needs to go big

Call to Europe with FEPS – Europe needs to go big! What can the EU learn from the US and Biden experience in this recovery and reconstruction phase? What is the basis for a successful relaunch of European integration that goes beyond the temporary ‘Next Generation’ instruments? Amid one of

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Intelligencer

Adam Tooze on Climate Politics After COVID

Back in autumn 2019, when COVID was still just a twinkle in Satan’s eye, the world was already hurtling toward crisis. The Arctic Sea ice was historically minimal, and global temperatures historically high. “Once in a lifetime” storms were devastating the Caribbean every year, while wildfires gave the West Coast an annual taste of hell

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Chartbook

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on bookshelves

Look out for Adam’s next books, Shutdown: The Global Crises of 2020 coming to print in 2021, and Carbon, out in 2023.

on air

Discussion with Wolfgang Schäuble

WEF 2020: Why Protests Are An Integral Part Of Democracy

GZERO World with Ian Bremmer – Is a 2nd Great Depression Coming?

on record
on the blog
Journalism & Interviews

Chartbook

Sign up below for Adam’s bi-weekly newsletter, which includes economic data, images, & stories that matter.

on bookshelves

Look out for Adam’s next books, Shutdown: The Global Crises of 2020 coming to print in 2021, and Carbon, out in 2023.

on air

Discussion with Wolfgang Schäuble

WEF 2020: Why Protests Are An Integral Part Of Democracy

GZERO World with Ian Bremmer – Is a 2nd Great Depression Coming?

on record
on the blog