Electricity Provisioning under the Green New Deal: A Modern Monetary Theory Approach — Avraham I. Baranes and Mitchell R. Green

Summary:
Abstract: This paper applies theories of institutional adjustment and Modern Monetary Theory to the problem of rapidly transitioning to an electricity provisioning system consistent with the Green New Deal. We argue the current obstacles are primarily financial, not technological in nature, and offer a high-level policy framework for using fiscal tools at the Federal level that overcomes the obstacle, while protecting rate-payers from cost burdens. Drawing upon theories of institutional adjustment after John Fagg Foster, we show that it is feasible to craft a policy solution to the financial barriers to adoption of rapid transition to a clean and renewable grid, even under relatively conservative assumptions for institutional change.Global Institute for Sustainable ProsperityElectricity

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