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The Case for Climate Capitalism

Economic Solutions for a Planet in Crisis

ebook
1 of 1 copy available
1 of 1 copy available

Tom Rand's climate change treatise is a rallying call to put aside our differences, reclaim capitalism, force profits to align with the planet, and transition to a low-carbon, clean-energy economy. Publishers Weekly hails it as "[a] strong, well-reasoned argument for the left and right to work together for the common good."

"A necessarily provocative take-down of economic, political and climate change orthodoxies paired with a radically practical plan for finally getting serious about saving ourselves." — Tim Gray, Executive Director, Environmental Defence

A warming climate and a general distrust of Wall Street has opened a new cultural divide among those who otherwise agree we must mitigate climate risk: anti-market critics such as Naomi Klein target capitalism itself as a root cause of climate change while climate-savvy business leaders believe we can largely continue with business as usual by tinkering around the edges of our economic system. 

Rand argues that both sides in this emerging cultural war are ill-equipped to provide solutions to the climate crisis, and each is remarkably naïve in their view of capitalism. On one hand, we cannot possibly transition off fossil fuels without the financial might and entrepreneurial talent market forces alone can unlock. On the other, without radical changes to the way markets operate, capitalism will take us right off the climate cliff.

Rejecting the old Left/Right ideologies, Rand develops a more pragmatic view capable of delivering practical solutions to this critical problem. A renewed capitalism harnessed to the task is the only way we might replace fossil fuels fast enough to mitigate severe climate risk. If we leave our dogma at the door, Rand argues, we might just build an economy that survives the century.

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    • Publisher's Weekly

      December 23, 2019
      Capitalism can save a burning planet—if the left and right can bury the hatchet long enough to acknowledge that humanity needs both robust business and regulation, cautions investor Rand (Waking the Frog) in his thoughtful treatise. With climate disruption threatening social upheaval, he believes humans need “a pragmatic response to a messy problem.” Rand looks at how the current ideological impasse arose, warning that adherence to dogmas—either staunchly pro– or anti–free market—will prevent building the new economy that might solve the problem. On possible solutions, he stresses the need to get corporate leaders on the right side and to carry out market interventions to encourage the adoption of clean technologies. Much of the book’s strength is in its practicality. Most of the necessary technology already exists, he notes—it just needs to be commercialized and deployed before the world goes up in flames. A slightly panicky tone and a cutesy concluding letter to his newborn son detract somewhat from the gravity of the whole. However, this is largely a strong, well-reasoned argument for the left and right to work together for the common good. Agent: Arnold Gosewich, Arnold Gosewich Agency.

    • Library Journal

      December 13, 2019

      How can we rebuild industries to save our biosphere from catastrophic climate disruption? Canadian venture capitalist Rand (Kick the Fossil Fuel Habit) proposes a plan for rapid transition from coal, oil, and gas to other energy sources, reminding readers that the planet is currently heading for 3.5� Celsius or 38.3� Fahrenheit of warming and that the unstable climate will last for thousands of years. Canada, a heavy per capita CO2 emitter, is far from meeting its national reduction targets. With a Canadian focus, Rand analyzes the divide in public attitudes toward climate change and argues for a carbon tax, flexible regulation, and government support of clean energy technologies that can be deployed rapidly. There is also discussion of international businesses and corporations as "forced actors" in reducing their upstream emissions; a few are beginning to shift to cleaner energy sources. VERDICT Rand's call for action warns that a hostile climate is "our default future" and declares it's up to both business and government to head it off in this realistic and readable outline of solutions that could be implemented. Recommended for informed readers, in particular Canadians, who are concerned about climate change.--David R. Conn, formerly with Surrey Libs., BC

      Copyright 2019 Library Journal, LLC Used with permission.

    • Booklist

      March 1, 2020
      Rand's latest (after Waking the Frog, 2014) is an academically rigorous text that presents undeniable science proving climate disruption is the world's foremost problem. He then suggests a capitalist economic model is the solution. As a modern Renaissance man (he's an electrical engineer, doctor of philosophy, entrepreneur, venture capitalist, and author), Rand understands that other experts view his simultaneous environmental dedication and capitalist embrace with suspicion. He claims social activists (e.g., Naomi Klein) eschew capitalism while capitalists (e.g., the Koch brothers) deny climate change. Rand advocates for pragmatism by encouraging energy start-ups to tackle fossil fuel reliance and greenhouse gas emissions in order to mitigate climate change. Using his own clean-technology investments as examples (like Planet Traveler, a green hotel in Toronto that reduced its carbon footprint by seventy-five percent), he shows how innovation can reduce carbon emissions. Most impressive is Rand's understanding of the global financial system and how much it fears market disruption due to rapid climate change. This book tackles a number of different topical issues, and it's easy to imagine it being required reading at many colleges and universities.(Reprinted with permission of Booklist, copyright 2020, American Library Association.)

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