Tuesday, January 18, 2011

The elusive quest for green jobs

Edward L. Glaeser: picks apart the green jobs myth. Key takeaway:
Failed public investments, like the money spent in Devens, reflect the fact that public officials are rarely skilled venture capitalists and that governments pursue many objectives that lead them away from solid investments. It’s easy to see why any governor would be excited about a green-energy manufacturing plant in a less prosperous area of his or her state. But the same forces that made Devens political catnip meant that it was unlikely to be a long-term success.

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