November 08, 2008

Let us also think about the world we want to emerge from this crisis.

Sir your “Spending wisely to escape recession” November 7 though quite correct on its own merits unfortunately ignores that our real challenge is not just to recover from the current crisis but to make certain that the world that emerges from it is sustainable, something its previous route was not.

For instance, in any emerging world we all know there would be little room for energy consuming climate changing vehicles and so what are we going to do about that? Therefore, should we help car producers to keep up their current production, or should we invest the money more wisely in getting them to do some serious environmental and energy friendly retooling?

Reviving the economy just to see oil go over 200 dollars per barrel does really not seem the smartest thing to do, for anyone, including the oil extractors.