What is a “green job” anyway? Few can adequately define one. Even the government isn’t sure. Still, President Obama and environmentalist coalitions such as the BlueGreen Alliance claim the creation of green jobs can save America’s economy, and are worth taxpayers’ investment. But in Regulating to Disaster, Diana Furchtgott-Roth debunks that myth. Instead, energy prices rise dramatically and America’s economic growth and employment rate suffer – in some states much more than others – when government invests in nonviable ventures such as the bankrupted Solyndra, which the Obama Administration propped up far too long.
Green jobs are the most recent reappearance of a perennial bad idea – government regulation of certain industries, designed to anoint winners and losers in the marketplace. Regulating to Disaster reveals the powerful nexus of union leaders, environmentalists, and lobbyists who dreamed up these hoaxes, and benefit politically and financially from these green jobs policies. Unfortunately, more Solyndras are on the horizon, and our economy is in no shape to absorb them.
Diana Furchtgott-Roth, former Chief Economist of the U.S. Department of Labor, is a Senior Fellow at the Manhattan Institute, a MarketWatch columnist, a contributing editor of RealClearMarkets.com, and a monthly columnist for Tax Notes. From 2001 to 2002, Ms. Furchtgott-Roth served as Chief of Staff of President George W. Bush’s Council of Economic Advisers. She also served as Deputy Executive Secretary of the Domestic Policy Council at the White House under President George H.W. Bush and as an economist on the staff of President Reagan’s Council of Economic Advisers. She earned degrees in economics from Swarthmore College and Oxford University.
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Herbert and Joyce Morgan Fellow