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Greening of CapitalismHow Asia Is Driving the Next Great Transformation$
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John A. Mathews

Print publication date: 2014

Print ISBN-13: 9780804791502

Published to Stanford Scholarship Online: May 2015

DOI: 10.11126/stanford/9780804791502.001.0001

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The Transition to a Green Economy

The Transition to a Green Economy

(p.153) 7 The Transition to a Green Economy
Greening of Capitalism

John A. Mathews

Stanford University Press

Part III draws the threads together to discuss the emergence of this new model of “green development”, or green growth capitalism. Chapter Seven is concerned with the process of transition itself, emphasizing the barriers and difficulties encountered by any change on the scale of the new greening trajectory. The greening of markets for energy, commodities and capital can be expected to propagate to encompass the entire economy, through multiple inter-firm connections and driven by competitive forces. Green products will call for new value chains that will propagate via intermediate suppliers and aggregators back to ultimate commodity suppliers, where the greening of commodity markets will exert their effects downstream. The barriers that stand in the way of this emergent system are formidable, from the protection of vested interests and continuation of subsidies to fossil fuels, to the clash of sectional interests. Ultimately it is strong states that drive fundamental change.

Keywords:   Technoeconomic paradigm shift, logistic industrial dynamics, market-based incentives, carbon markets, carbon tax, feed-in tariffs, market mandates

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