by Robert Wenzel
February 22, 2021
Great Panic of 2020 was perpetrated by the same
climate alarmists who drove the global warming
Now, with success in shutting down economic
activity, they are proposing dystopian "Climate
Do you think it
can't get much worse than
establishment-connected lefty professor says that in,
future, the world may need to resort to lockdowns again - this time
to tackle a 'climate emergency'."
"Under a 'climate
lockdown,' governments would,
limit private-vehicle use
consumption of red meat
impose extreme energy-saving measures,
fossil-fuel companies would have to stop drilling," writes
Mariana Mazzucato, a professor at the
Economics of Innovation and
Public Value Center at University College London, in a paper
a Climate Lockdown."
The title of her
paper is very misleading.
She believes climate lockdowns will be
necessary unless we,
"overhaul our economic structures and do
Three obstacles to
overhaul must be removed, she says,
"business that is
shareholder-driven instead of stakeholder-driven
finance that is
used in inadequate and inappropriate ways
government that is
based on outdated economic thinking and faulty assumptions."
really talking about fascist economics, where governments set the
policies of "private" sector firms:
Government assistance to business
must be less about subsidies, guarantees, and bailouts, and more
about building partnerships.
This means attaching strict conditions
to any corporate bailouts to ensure that taxpayer money is put to
productive use and generates long-term public value, not short-term
Because markets will not lead a green revolution on
their own, government policy must steer them in that direction.
will require an entrepreneurial state that innovates, takes risks,
and invests alongside the private sector.
New York Times:
Her message has appealed to an array
of American politicians.
Senator Elizabeth Warren, Democrat of
Massachusetts... has incorporated Dr. Mazzucato's thinking into several
policy rollouts, including one that would use,
"federal R & D to
create domestic jobs and sustainable investments in the future",
another that would authorize the government to receive a return on
its investments in the pharmaceutical industry.
Ocasio-Cortez and Mazzucato
Dr. Mazzucato has
also consulted with Representative Alexandria Ocasio-Cortez,
Democrat of New York, and her team on the ways a more active
industrial policy might catalyze a
Green New Deal...
Even Republicans have found something
In May, Senator Marco Rubio of Florida credited Dr. Mazzucato's work several times in "American Investment in the 21st
Century," his proposal to jump-start economic growth.
"We need to
build an economy that can see past the pressure to understand
value-creation in narrow and short-run financial terms," he wrote in
the introduction, "and instead envision a future worth investing in
for the long-term."..
charismatic figure in a contentious field that does not generate
many stars - she was recently profiled in Wired magazine's
United Kingdom edition...
ideas... are finding a receptive audience around the world.
United Kingdom, Dr. Mazzucato's work has influenced Jeremy Corbyn,
leader of the Labour Party, and Theresa May, a former Prime
Minister, and she has counseled the Scottish leader Nicola
Sturgeon on designing and putting in place a national investment
She also advises government
entities in Germany, South Africa and elsewhere.
"In getting my hands dirty,"
she said, "I learn and I bring it back to the theory"...
She pointed at an announcement on
had been nominated for the first Not the Nobel Prize,
a commendation intended to promote "fresh economic thinking."
"Governments have woken up to the fact the mainstream way of
thinking isn't helping them," she said, explaining her appeal to
politicians and policymakers.
A few days later, she won.
The world is full
of economists with very bad ideas but Mazzucato's central planning
ideas are among the worst.
She is filled with ideas that would
result in the harassment of individuals and independent businesses.
Combine this with the following she is garnering and it makes her
hamburgers while you can...