By Ben Cohen
As the current economic orthodoxy collapses into a heap of dust, Keynesian economic theory is now becoming popular again (the idea that the government spends money on big projects to create jobs and grow the economy). President elect Barack Obama has a unique opportunity to revive the flagging economy by making a bold move to create growth and create jobs.
What could this be? Given the alarming rise in global temperatures, it would make a lot of sense to invest heavily in green technology and move the country away from fossil fuels to a low carbon alternative.
As Michael McCarthy in the Independent suggests, Obama could brand his Presidency immediately by initiating a 'Smart Grid'. The 'Smart Grid' is essentially an intelligent energy distributing grid that would allow people to use energy only when necessary, trade energy they weren't using all through one internet like centralized system. The potential for a system like this is enormous, and could lead to massive savings for consumers and extremely valuable technology.
Obama has promised an energy revolution, green technology jobs and a way out of fossil fuel dependence. The Smart Grid would be a good start, and would set his Presidency off to a dynamic beginning. The Bush Administration has spent the last 8 years taking tax payers money, borrowing vast sums from the Federal Reserve and pumping it into the military industrial complex. The profit is privatized and most of the population see none of the benefit. Green technology has the potential to benefit everyone, creating revenue for the government so it can pay for much needed infrastructure, healthcare, and school, while drastically reducing our impact on the environment.
It's a no-brainer, so we'll get to see how smart Obama really is.