Yves here. I hate to sound like a broken record, but as much as the Green New Deal is an appealing idea, its time was thirty or forty years ago. We need much more radical solutions that emphasize prohibitions and/or severe limits on lots of carbon-using activities. Unfortunately, most of them are in commerce, and the big boys are well positioned to obstruct needed changes.
That isn’t to say Green New Deal approaches don’t have merit and should not be part of an effective response, but we already are well on the way to a catastrophic level of climate change, as agricultural production shortfalls and rising hunger attest.
By Robert Pollin, a professor of economics and director of the Political Economy Research Institute at UMass Amherst. Originally published at Triple Crisis
Second in a series of posts on neoliberalism and what might come next, organized to celebrate the 45th anniversary of Dollars & Sense, which publishes Triple Crisis.
In 2007, Nicholas Stern, the prominent mainstream British economist and former chief economist at the World Bank, wrote that “Climate change is a result of the greatest market failure the world has seen.” Stern’s assessment was extreme, but not hyperbolic. This is for the simple reason that, if we take climate science at all seriously, we cannot avoid the conclusion that we are courting ecological disaster by not stabilizing the climate.
Neoliberalism is a driving force causing the climate crisis. This is because neoliberalism is a variant of classical liberalism, and classical liberalism builds from the idea that everyone should be granted