Victor Galaz is Deputy Director of the Stockholm Resilience Centre at Stockholm University, Program Director at the Beijer Institute of Ecological Economics at the Royal Swedish Academy of Sciences, and author of the forthcoming book Dark Machines (Routledge, 2022).
explains the roots of the lack of accountability in India, highlights shortcomings in human capital and gender equality, casts doubt on the country’s ability to assume a Chinese-style role in manufacturing, and more.
While China and the US take advantage of scale to pursue large-scale investment in critical sectors, the EU struggles to follow suit, owing to its decentralized fiscal structures and rules limiting government subsidies to industry. A new EU-level investment program is urgently needed.
advocates a federal investment program, funded by EU sovereign-debt issuance and administered centrally.