Seeming Green

Politicians in Denmark and elsewhere argue as if the transition to a green economy will create millions of new “green jobs.” But, while green-energy subsidies generate more jobs in green-energy sectors, they also displace similar numbers of jobs elsewhere. This is not surprising: either customers or taxpayers must finance subsidies. Electricity prices will increase, implying a drag on private-sector job creation. If the goal is to create jobs, public investment in other areas – such as the health care – generates stronger, faster employment growth.

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