> The Green New Deal, if enacted as specified, would send us into a prolonged, generation-long recession.
Source? The last New Deal helped get us out of the Great Depression. Seems crazy to suggest that a new similar one would cause one.
Source? The last New Deal helped get us out of the Great Depression. Seems crazy to suggest that a new similar one would cause one.
But anyway, the only similarity is in the name. The FDR new deal built new infrastructure. The Green new deal replaces infrastructure. Adding infrastructure where there was none before increases productivity, and therefore causes economic growth. Replacing infrastructure has net-zero change and therefore while the activity adds to GDP, it has no lasting effect on the economy. And since it substitutes for things that would have led towards growth, it actually causes stagnation or decline.
In the social sciences, this is known as the "broken window fallacy." There's a lot of papers you can find with those search terms.
If you want an idea of the best-case scenario of what life would be like under the Green New Deal, look to Japan with it's 20+ years of economic stagnation. Except without nationalized pensions we'd be asking a whole generation to live through work-until-you-die conditions. I'm sorry, but I don't think I want to do that to my kids unless it is a real do-or-die scenario as the alarmists claim. But the alarmists are wrong. The world is not ending tomorrow, or even the day after. We can deal with the change at a pace that doesn't result in economic suicide.
If so, I would like to propose a Pink New Deal. It's even better than the Green one, trust me. And it seems crazy to suggest otherwise.
BTW, since you care about reducing wealth inequality, can you send a dono to my paypal?