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Full Description
This open access book offers a critical examination of large-scale, state-led green industrial policies, with a particular focus on the European Union. Drawing on empirical evidence from sectors such as ethanol, hydrogen, wind power, and biogas, it reveals how well-intentioned "Green Deals" often result in speculative investment bubbles—termed "green bubbles"—rather than sustainable industrial transformation. Contributors analyze the systemic risks of mission-oriented policies that prioritize political goals over technological neutrality and economic viability. The volume highlights the consequences of overinvestment, technological lock-in, and politicized capitalism, while proposing more evidence-based, innovation-driven alternatives. It is an essential resource for scholars, policymakers, and practitioners seeking to understand and improve the design of green industrial strategies.
Contents
Part I: Introductory Essay.- The Pitfalls of Green Deals: Introduction and Synthesis.- Part II: Theoretical Perspectives Green Deals around the World.- The Incoherence of Modest Industrial Policy.- Raiders of the Entrepreneurial State: A Baptist and Bootlegger Analysis.- Behavioral Political Economy and Environmental Policy: Explaining Persistent Deviations from Efficient Policies.- Part III Empirical Evidence.- Exploring Failed Green Innovation Policy: The Rise and Fall of Ethanol Cars in Sweden 2003-2015.- The German Energiewende: A Green Deal Template or Planned Failure?.- In Pursuit of the Green Transition—Electricity at Any Cost?.- Green Industrial Megaprojects: A Welfare Economics Perspective.- HYBRIT: A Hubristic Hydrogen-Based Steel Project.- Explaining Northvolt's Bankruptcy and the Dilemma of Green Deals.- The Planetary Diet: An Illusory Recipe.- Italy's Superbonus and the Capture of Climate Policy by Modern Monetary Theory.- Part IV: Alternative Paths.- A Silent Transition: Growth with Less Environmental Weight.- uclear Technology Transition towards SMR and Generation-IV.- State-ification" of the Entrepreneur—or "Entrepreneurialization" of the State? How Singapore Challenges both Mazzucato and Her Critics.



