‘Black capitalism’ arrives in Italy

Ultimately, the “green capitalism” of Von der Leyen and her associates causes instability and inequality, especially to the detriment of the weaker social classes.

The threat of an ecological catastrophe still looms over the world. A paper just published in One Earth notes that carbon dioxide emissions have reached their highest levels in the last two million years.

And they are bringing us closer to the so-called “point of no return,” with Earth’s temperature spiraling out of control and potentially devastating effects on both the economy and the climate.

In essence, the data shows that ecological decarbonization policies are failing. And that we will have to suffer the consequences. But why is that the trend? Why are emissions not decreasing? The current dialectic between the European Union and Italy on this matter clues us in on the answer.

So far, the European Union’s ecological policy has followed a doctrine sometimes called “green capitalism.” In practice, to reduce emissions, it employs typical market mechanisms. The case of electricity is paradigmatic: the EU adopted the ETS (“Emissions Trading System”). In short, it set a cap on total carbon dioxide emissions, which........

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