The Green New Deal (GND) is a set of
policy proposals, some more concrete than others, with the central
advertised goal of ameliorating a purported climate crisis by
implementing policies that would reduce US greenhouse gas (GHG)
emissions to zero, or to “net zero,” by 2050 in some formulations. In
addition, GND incorporates other important social-policy goals as a
means of forging a majority political coalition in support.
The GND’s central premise is that such policies — either despite or
by reducing sharply the economic value of some substantial part of the
US resource base and the energy- producing and energy-consuming capital
stock— would increase the size of the economy in real terms, increase
employment, improve environmental quality, and improve distributional
equity. That is a “broken windows” argument: The destruction of
resources increases aggregate wealth. It is not to be taken seriously.....
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