Author and columnist Thomas L. Friedman wrote an op-ed column in today’s New York Times regarding the need for a green energy revolution. Friedman points out past boom and bust cycles that have made some rich, and others broke, but that have consistently left the country with valuable infrastructure that future economic growth can be built upon. That’s a different scenario from today’s financial bust, that leaves little that we can turn into future opportunities.
Here’s Friedman on the need for tangible investments:
“We need a buildup. We need to get back to making stuff, based on real engineering not just financial engineering. We need to get back to a world where people are able to realize the American Dream — a house with a yard — because they have built something with their hands, not because they got a “liar loan” from an underregulated bank with no money down and nothing to pay for two years.”
Be sure to read the full column here.