The global economy is facing an unprecedented challenge, with the risk of a protracted depression following the response to COVID-19. In 2014, I argued here that macroeconomic conditions made it a relatively favorable time to kick-start investments in a resource-efficient, low carbon economy. Yet the opportunity was, for the most part, squandered. Failure to utilize active fiscal policy contributed to growing private indebtedness, limited productivity and wage growth and widened inequality helping erode trust in institutions. All the while, greenhouse gas emissions continued to rise. This time, there are grounds for optimism that a more coordinated response toward generating an ambitious transition to net zero emissions might contribute to a strong, sustainable, and resilient recovery.

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为什么可持续、包容和有弹性的投资有助于有效的后 COVID 医学

全球经济正面临前所未有的挑战，在应对 COVID-19 之后，存在长期萧条的风险。2014 年，我在此指出，宏观经济条件使得现在是开始投资资源高效、低碳经济的相对有利时机。然而，在大多数情况下，机会被浪费了。未能利用积极的财政政策导致私人债务增加、生产力和工资增长受限以及不平等加剧，从而削弱了对机构的信任。与此同时，温室气体排放量继续上升。这一次，有理由乐观地认为，为实现向净零排放的雄心勃勃的过渡做出更协调一致的反应可能有助于强劲、可持续和有弹性的复苏。