The Inflation Reduction Act - a paradigm shift in North American economics

 

A paradigm shift is what happens when a great change is made in the way people think . If you think about the Renaissance in Italy or the age of Enlightenment in Britain these were paradigm shifts as maths and science played more of a leading role in society. 

With The Inflation Reduction Act in North America we are experiencing another such shift. The change is driven more by economics than an ALTRUISTIC concern for mankind, simply a need to be able to compete with China.  The recent legislation will see the biggest ever single investment in Green Energies in the world \ 370 Billion dollars \ . This is essentially a major TURN AROUND in American energy policy, the biggest shift in fifty years. Gone are the days of Reagen economics when politicans were mere servants to the corporations and  lobby groups,  public investment and protection are the new BUZZWORDS .. 

Colin Dodds - Buzzwords (Business Song) (youtube.com)

The lesson is a youtube mini informative documentary on the legislation and the way the way it will possibly MAP OUT over the next ten years. 

Objective – Class duration – One - 2 hour session \ Number of students – 1 – 4 

The majority of corrections are given in real time during the online class with notes taken and written in the CHAT option in Microsoft teams, google MEET or skype. 

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The announcement of The Inflation Reduction Act by the Biden administration before Christmas was a major SHIFT IN American economic policy. After fifty years of  OFF SHORING and protecting it's carbon based industries it is about to begin a 370 billion dollar investment in Green Energies with the intention of bringing production back to North America and being a real competitor in the RENEWABLE energy market. 

How Biden's Inflation Reduction Act changed the world | FT Film (youtube.com)

IDIOMS – all bets are off,

VOCAB - renewable energy , Bi Partisan embrace - abrazar, ladies under-garments – ropa interior\ 6,10\ ,supercharge, subsidies, to off shore – Zara OFF shores clothes fabrication to Morocco, an inflection point, uncharted waters

\\\ America wants to REINDUSTRIALIZE HEARTLANDS. --- What does this mean ?

\\\\ Red states - Blue states and The Swing States 

But why has North America traditionally known for dragging it heals on all things green suddenly embracing the change? One word ..... China. 

(1960) Why China is winning the EV war - YouTube

Where does Europe stand ? Europe exceeded its renewable energy goals for 2020 | World Economic Forum (weforum.org)