Going for broke. Why financialization is the wrong fix for infrastructure
Building new infrastructure is no longer simply the talk of towns and communities in which various projects are to be implemented. Instead, it has taken on a new, awe-inspiring, global character.
In Europe alone, the European Commission estimates that investment of up to €2 trillion is needed in transport, energy and IT infrastructure by 2020. Out of the ashes of the economic crisis, infrastructure is being promoted as a magic bullet. Yet is this new burst of global investment hopes being based on new, more sustainable, less risky investment and financial foundations?
This report discusses how and why the answer to this question is ‘No’, and seeks ultimately to outline some of the tentatively emerging alternative options.