Europe wants to take on the competitive rigors of the global economy with both hands tied behind its back…in the name of its own Green Deal. From Andrew Moran at mises.org:
Today’s brand of the left-leaning politician is all about substituting what sounds good for what actually works. Modern politics, whether in the US or Europe, is about taking a chainsaw to everything that produced even a modicum of success to appease the deities espousing progressive orthodoxy. There is no better example of this than fossil fuels, an energy source that has lifted us out of destitution and darkness, and given us incredible wealth that the world had never witnessed. What is the Left interested in doing? Using confiscation, cronyism, centralization, and coercion to combat climate change. The European Union will achieve these objectives through the boondoggle-in the-making Green Deal (GD).
What is the Green Deal?
The European counterpart is a bit more realistic than the American version, aiming for net-zero emissions within thirty years rather than in a decade. But that is probably the best thing you can say about the proposal, which was approved by the European Parliament—though some policymakers had requested even greater ambitions to be inserted into the climate change scheme. Overall, the Green Deal is bad economics that will affect the already dreary conditions of Europe and exacerbate the slowdown.
The Green Deal begins with the European Commission examining every European Union law and regulation and then modifying it to align with the bloc’s new climate objectives. If you thought the EU’s regulations were already egregious, just you wait until March 2021, when the bureaucrats will submit a package containing all the statist goodies. At least Great Britain will not have to.
