Triple crunch Joined-up solutions to financial chaos, oil decline and climate change to transform the economy
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The global economy is facing a ‘triple crunch’. It is a combination of a credit-fuelled financial crisis, accelerating climate change and an encroaching peak in oil production. These three overlapping events threaten to develop into a perfect storm, with potential consequences not seen since the Great Depression.
As this pamphlet goes to press the global financial system is in meltdown, the consequences of which are, as yet, unknown. The system may well save itself this time. But unless fundamental changes are made to the global economy the resurrection will only be temporary. And the consequences of the next crisis will be beyond our control. We are at a unique historical moment. Grasp it, and we could rebuild a more stable, equitable system able to withstand the coming crises.
This pamphlet builds on the proposals set out in A Green New Deal to begin to add to the range of progressive solutions to the challenges we collectively face. It shows how the opportunities presented by the ‘triple crunch’ could be used to transform the economy to deliver stability, social progress and true environmental sustainability.
Featuring contributions from: Larry Elliott, Andrew Simms, Ann Pettifor, Lindsay Mackie and Ruth Potts, David Boyle, Tony Juniper, Colin Hines, Richard Murphy, Nick Robins, Jeremy Leggett, Rosie Boycott, Adam Samson, Stewart Wallis, Caroline Lucas, Andrew Dobson, Stephen Spratt, David Woodward and Jayati Ghosh.