For a Tax-Free Green Transition: A parallel economy to earn more, pay less, while the rich pay more!

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Vincent Lannoye, Nov 18, 2022 - Business & Economics - 54 pages
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Reducing inequality is the precondition to a green transition

The bottom 50% of the people are angry at stagnant wages, while billionaires thrive and inequality grows. For decades, frustration has mounted over governments around the world failing to reverse the trend. Neither tax-and-regulate nor tax-cuts-and-deregulation remedies have healed the wounds.

On top of inequality, global warming is challenging societies to transition towards a carbon-free economy. As with inequality, governments have struggled to significantly reduce the emissions of CO2 and other greenhouse gases. Actually, enforcing clean energy and green products would weigh on the people and increase inequality, unless subsidies fully compensate for a green transition. Easier said than done.

Will any country succeed to square the circle of taxation and regulation to reduce inequalities as well as stop all CO2 emissions? Such an example hasn’t happened so far. 

Thinking out of the tax-and-regulate box

Could an alternative tactic reverse the trend of inequality while unlocking the green economy? To be successful, such a system should create jobs with good wages and convincingly cut down CO2 emissions. 

Outside of the dead-end strategies of cut-tax-and-deregulate or tax-and-regulate, there is a path that remains unexplored: amending the monetary system. After all, the monetary system has crucially evolved throughout history from early gold coins to paper banknotes and inflation control. Could a nuanced addition to the existing monetary system make a difference?


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About the author (2022)

Vincent Lannoye was born in the US and grew up in Belgium in an industrial family, which sparked his curiosity to analyze and critique economics. An engineer with an MBA from Edhec France, today he works in high-tech in Silicon Valley. His past, his passion for economy, the lack of accessible works about the economic implications of the fight against global warming, and his monetary ideas, all have inspired him to write about economics.

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