I expect that global society will increase annual investments from 24% today to 36% of the GDP in 2052. Much of this investment will be in energy-efficient goods that are more expensive than old-fashioned stuff designed for an era of cheap energy. ( ① ) Another share will be invested in the shift from coal to more expensive fuels, like conventional gas. ( ② ) Some will go into the construction of new renewable energy supply, even during the years before it becomes competitive. ( ③ ) And a lot will go into repair of climate damage or adaptation to future climate damage ─ for example, investing in new protective walls along the coast to keep the rising ocean back. ( ④ ) These huge increases in investment would not come about if investment was left to the market. ( ⑤ ) It will be either direct, when the government invests the tax dollars in whatever capacity it considers to be most necessary, or indirect, when the government passes legislation that makes the desired activity more profitable.