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The Green New Deal: Historical Foundations, Economic Fundamentals and Implementation Strategies

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  • Julia M. Puaschunder

    (The New School, USA)

Abstract

The Green New Deal serves as market solution to implement global environmental governance as “the sum of the many ways individuals and institutions, public and private, manage their common affairs.†This paper discusses the historical foundations, underlying economic mechanisms of the GND and contemporary implementation strategies of the GND. GND spending should target social and green causes fostering concepts such as eco-commerce, environmental enterprise, environmental finance, fiscal environmentalism, green accounting, economy, jobs and trading as well as sustainable energy. The economic policies proposed comprise of fiscal and monetary means, innovation efforts and behavioral changes. Concrete recommendations are given on carbon tax, emissions trading, green bonds, absorbing CO2 and forestation, insurance policies, intergenerational conscientiousness, engaging portfolio managers, ecotax, environmental pricing reform, environmental tariffs, net metering, Pigovian tax and sustainable tourism. All these efforts are to support global environmental governance. The paper closes with a prospective outlook of changes implied to the GND due to the novel Coronavirus (COVID-19) crisis.

Suggested Citation

  • Julia M. Puaschunder, 2020. "The Green New Deal: Historical Foundations, Economic Fundamentals and Implementation Strategies," Proceedings of the 18th International RAIS Conference, August 17-18, 2020 006jpa, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:apaper:006jpa
    as

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    References listed on IDEAS

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    1. Matteo Coronese & Francesco Lamperti & Klaus Keller & Francesca Chiaromonte & Andrea Roventini, 2019. "Evidence for sharp increase in the economic damages of extreme natural disasters," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 116(43), pages 21450-21455, October.
    2. Semmler, Willi, 2015. "The Oxford Handbook of the Macroeconomics of Global Warming," OUP Catalogue, Oxford University Press, number 9780199856978 edited by Bernard, Lucas.
    3. Julia M. Puaschunder, 2019. "Intergenerational Equity," Books, Edward Elgar Publishing, number 18843.
    4. Julia M. Puaschunder, 2018. "Intergenerational Responsibility in the 21st Century," Vernon Press Titles in Economics, Vernon Art and Science Inc, edition 1, number 135, July.
    5. Julia Puaschunder, 2020. "Behavioral Economics and Finance Leadership," Springer Books, Springer, number 978-3-030-54330-3, December.
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    Cited by:

    1. Julia Puaschunder, 2022. "Advances in Behavioral Economics and Finance Leadership," Contributions to Economics, Springer, edition 2, number 978-3-031-15710-3, October.
    2. Julia M. Puaschunder, 2021. "Monitoring and Evaluation of the Green New Deal and European Green Deal," RAIS Conference Proceedings 2021 0041, Research Association for Interdisciplinary Studies.

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    More about this item

    Keywords

    The Green New Deal; carbon tax; emissions trading; governance; green bonds; environmental costs; insurance policies; intergenerational conscientiousness;
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