This paper addresses the issue of technological change in the global political economy. Specifically, it looks at the implications of a transition from hydro-carbons to hydrogen-powered fuel cells as the major source of energy for transportation, for electricity generation, and for combined heat and power. After briefly explaining how fuel cells work and what their direct benefits are, including dramatically reducing air pollution and global warming and shifting from fossil fuels to renewable energy, the paper asks three main questions. First, what are the political, economic and technical obstacles that fuel cells must overcome. Second, what combination of market pull and public policy push will lead to their commercial success. Third, what are the implications of such success for the global political economy in three areas: changes in competitiveness in major industries; economic growth and development; and the global redistribution of political power.
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