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Delay in environmental measures? "True failure of public policy"
Economist Joseph Stiglitz suggested in London today that artificial intelligence could help combat climate change by freeing up workers from other sectors to focus on the issue.
© David Zorrakino/Europa Press via Getty Images
Mundo Joseph Stiglitz
The 2001 Nobel laureate in economics argued that “we’re going to have to free up labor and capital from other areas to deal with climate change.”
Stiglitz was speaking at a Foreign Press Association event to promote his book “The Road to Freedom: Economics and the Good Society,” saying it’s a theme he explores in the work.
The economist said the delay in addressing environmental issues “is a real failure of public policy, because the effects are going to be dramatic,” and that taking preventive measures would be costly.
“People used to be very worried that we were going to have to make big sacrifices to deal with climate change, but I think it’s going to be a source of economic growth as we restructure our economy,” he argued.
In the book, the economist renews his criticism of economic liberalism, which he links to the rise of right-wing nationalist populism.
“If you look around the world, what you see is that the places where there has been a rise in populism, particularly right-wing nationalist populism, are places where government has not addressed the kinds of anxieties and stresses that come from all these things: globalization, demographics,” he said.
Stiglitz counters the theses of economists Milton Friedman and Friedrich Hayek that by reducing the weight of the State and deregulating the economy, the benefits would be felt by all.
“In order to have more freedom, you need to have some regulation,” he argued, stressing that in many cases, “appropriate government action can actually expand the freedom of all.”
Read Also: Police in US protests "raise the issue of academic freedom" (Portuguese version)
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