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Pitchfork Economics with Nick Hanauer

How economics can create a more sustainable planet (with Sarah Bloom Raskin)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.81.5K Ratings

🗓️ 4 July 2023

⏱️ 42 minutes

🧾️ Download transcript

Summary

In the 21st century, summertime isn’t just for lounging on the beach and trips to the ice cream shop. Climate change has made summer much more unpleasant—and even dangerous. This year alone, New York City and Chicago have been choked with wildfire smoke and the southern U.S. suffered through a wave of record-breaking high temperatures. That’s why we’re revisiting our conversation with financial regulation expert Sarah Bloom Raskin about how fiscal policy can help save the environment. She explains what levers already exist to steer monetary policy toward lasting sustainability, and which proposed regulatory strategies could create transformative climate outcomes. This episode originally aired on July 20, 2021. Sarah Bloom Raskin is the former Deputy Secretary of the U.S. Department of the Treasury and a former Governor of the Federal Reserve Board. She is currently a visiting professor and distinguished fellow at Duke Law School’s Global Financial Markets Center, and a member of President Biden’s Regenerative Crisis Response Committee. Twitter: @SBloomRaskin News clips from: CBS News, PBS NewsHour, and TODAY Learn more about the Regenerative Crisis Response Committee here: https://regenerativecrisisresponsecommittee.org Does environmental regulation kill or create jobs? https://policyintegrity.org/files/media/Jobs_and_Regulation_Factsheet.pdf Do regulations really kill jobs? https://www.theatlantic.com/business/archive/2017/01/regulations-jobs/513563 Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Transcript

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0:00.0

It's officially summer in the United States, which has unfortunately come to mean it's time for

0:04.9

heatwaves, freak weather events, and forest fires. What we on the west coast have come to

0:10.1

known as smoke season, and what those of you on the east coast are finally come to realize

0:16.4

is the new reality. So we thought it'd be a good time to revisit an episode we did in 2021

0:22.7

with financial regulation experts Sarah Bloom-Raskin about climate change. She helps us explore

0:30.5

what levers exist to steer fiscal and monetary policy toward lasting sustainability.

0:36.4

Can we create transformative climate outcomes by adopting new regulatory strategies

0:42.1

or by using the regulations we already have? Stay tuned to find out.

0:46.4

We're fortunate to have an administration again that believes in climate change and believes

0:53.6

it's the role of government to do something about it. We still have quite a bit of work to do

0:58.3

in the financial regulatory space. The challenge, of course, to addressing climate change is to

1:04.4

rewire the economy with new regulations and incentives so that the economic activity

1:11.2

creates a more sustainable planet, not a less sustainable planet.

1:19.6

From the home offices of civic ventures in downtown Seattle, this is pitchfork economics,

1:24.6

with Nick Hanauer, the best place to get the truth about who gets what and why.

1:36.8

The death toll is rising from that historic heatwave broiling the west,

1:40.5

and it's fueling a wave of dangerous wildfires.

1:43.2

Throughout the heatwave, Washington State reported more than 1,300 emergency room visits

1:48.4

for heat-related illnesses. Officials believe the increase in fatalities is likely linked to the

1:53.5

extreme weather. Death Valley saw 130 degrees pushing toward the hottest temperature ever recorded

2:00.8

on Earth. Nearly one half of the country from the Pacific coast to the Great Plains and the

2:06.0

Upper Midwest is experiencing moderate to exceptional drought conditions. It's expected to get

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