In a recent post, US News & World Report asked, “Can green jobs fix the U.S. economy? Are green jobs a panacea or a pipe dream?”

Although the ultimate form of the green economy is far more nuanced and multi-faceted that these questions imply, they shine light on myths that affect how our clients think about the green economy.

I believe green/clean/sustainable careers will have an impact on our economy, but it’s not going to happen overnight. We are in the early stages of a complete shift in our economy…the beginning of a new economic era. It’s so new we don’t have an agreed upon term for it yet. Is it going to be the green economy, low carbon economy, or clean energy economy? It is the Third Industrial Revolution or an Energy/Climate Revolution? Even though a clear label hasn’t come into focus yet, momentum for this new economy is building.

According to Recovery.gov, only 12% of the stimulus money that was distributed in 2009 went to green initiatives…by 2012, 61% of the funds are slotted to go to green related initiatives. People are making judgments about a multi-year program after only the first year. The money that has landed is creating jobs in a number of industries. It’s likely money distributed in 2010, 2011, and 2012 will do the same.

Critics posit that new green jobs will mean that carbon-based jobs will disappear. There is no doubt that over time technologies of today and tomorrow will outpace yesterday’s standards. Historical events from the Industrial Revolution through the technical revolutions of the last few decades demonstrate that new technologies overtake old technologies as time unfolds. It’s the way of innovation. Changes invoked by this economy shift are coming more frequently in a wide array of industries. Furthermore, long-standing industry giants are feeling this transition with the shifts to a greener, more sustainable economy.

This shift from one technology to the next will continue in the decades to come as one green innovation is outpaced by another. The road is likely to be rocky for some time to come. Employees must take responsibility for their own career planning and be ready to shift their path as some industries fade and others thrive. Although this strategy is one career services professionals have been recommending for a decade or more, it’s likely to be an even more important strategy moving forward.

In March US News & World Report will publish a debate between Jerome Ringo, former president of the Apollo Alliance and Kenneth Green of the American Enterprise Institute. Will be interesting to read what they have to say in response to these questions.