by Jeffrey Sachs becomes the first major conventional economist and public figure to advocate the Green New Deal as necessary and affordable. No qualifiers. This is a huge step forward.Jeffrey Sachs doesn't mention MMT in his justification for the affordability of the GND and associated progressive programs because he sees this policy proposal as being cost-saving rather than "budget-busting." It "pays for" itself and actually "saves" money. No need for a "socialist" government to pony up.While I haven't seen this stated in terms of rent yet, the GND entails using true price based on true costs, which eliminates the extraction of economic rent through socializing negative externality, the bill for which is now coming due on global society and the global economy. The system is becoming
Topics:
Mike Norman considers the following as important: GND, Green New Deal
This could be interesting, too:
Mike Norman writes On sustainable cost accounting — Richard Murphy
Mike Norman writes Tcherneva on the Green New Deal and Job Guarantee in France — Michael Stevens
Michael Stephens writes Tcherneva on the Green New Deal and Job Guarantee in France
Mike Norman writes Let The Economists & Researchers Speak — How Do We Fund A Clean Energy Future? — Carolyn Fortuna
Jeffrey Sachs becomes the first major conventional economist and public figure to advocate the Green New Deal as necessary and affordable. No qualifiers. This is a huge step forward.
Jeffrey Sachs doesn't mention MMT in his justification for the affordability of the GND and associated progressive programs because he sees this policy proposal as being cost-saving rather than "budget-busting." It "pays for" itself and actually "saves" money. No need for a "socialist" government to pony up.
While I haven't seen this stated in terms of rent yet, the GND entails using true price based on true costs, which eliminates the extraction of economic rent through socializing negative externality, the bill for which is now coming due on global society and the global economy. The system is becoming increasingly dysfunctional, while the fat cats become fatter on rent extraction. Actually, they are not only predators but also parasites on the system as free riders.
Take away the rents and "capitalism" works all by itself through actual market price by preempting rent-seeking and rent extraction (as many Austrian, economists have been saying from the right and Marxist and Marxian economists from the left.
CNN
Green New Deal is feasible and affordable