by Summary:
The question of how to pay for the Green New Deal is pretty silly when you take a step back and look at the larger issue at hand. Scientists are nearly in unanimous agreement that unless we do something unprecedented in the next twelve years, the Earth will become irreversibly hostile to human life in twenty years, with an estimated cost of trillion to deal with this apocalyptic future. Given that the global GDP for 2017 was trillion, it doesn’t matter what economic theory you espouse—nothing will be able to pay for that kind of cataclysm. The Green New Deal doesn’t have a price tag yet, but I can guarantee that it will cost far less than trillion, making it the fiscally conservative policy option in humanity’s bid to avoid certain planetary destruction. Kind of says it all.
Topics:
Mike Norman considers the following as important: GND, Green New Deal, MMT, Stephanie Kelton
This could be interesting, too:
The question of how to pay for the Green New Deal is pretty silly when you take a step back and look at the larger issue at hand. Scientists are nearly in unanimous agreement that unless we do something unprecedented in the next twelve years, the Earth will become irreversibly hostile to human life in twenty years, with an estimated cost of trillion to deal with this apocalyptic future. Given that the global GDP for 2017 was trillion, it doesn’t matter what economic theory you espouse—nothing will be able to pay for that kind of cataclysm. The Green New Deal doesn’t have a price tag yet, but I can guarantee that it will cost far less than trillion, making it the fiscally conservative policy option in humanity’s bid to avoid certain planetary destruction. Kind of says it all.
Topics:
Mike Norman considers the following as important: GND, Green New Deal, MMT, Stephanie Kelton
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
The question of how to pay for the Green New Deal is pretty silly when you take a step back and look at the larger issue at hand. Scientists are nearly in unanimous agreement that unless we do something unprecedented in the next twelve years, the Earth will become irreversibly hostile to human life in twenty years, with an estimated cost of $69 trillion to deal with this apocalyptic future. Given that the global GDP for 2017 was $75 trillion, it doesn’t matter what economic theory you espouse—nothing will be able to pay for that kind of cataclysm. The Green New Deal doesn’t have a price tag yet, but I can guarantee that it will cost far less than $69 trillion, making it the fiscally conservative policy option in humanity’s bid to avoid certain planetary destruction.Kind of says it all. Now just just have to hope we won't be too late. The deniers aren't going to change their minds until the rising sea level threatens to engulf them.
Interesting, too, how the urgency of a GND is thrusting MMT to the fore.
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What Is Modern Monetary Theory and Why Is It So Important to the Green New Deal?
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What Is Modern Monetary Theory and Why Is It So Important to the Green New Deal?
Jacob Weindling