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Can We Afford the Green New Deal?

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  • Yeva Nersisyan
  • L. Randall Wray

Abstract

In this policy brief, Yeva Nersisyan and Senior Scholar L. Randall Wray argue that assessing the "affordability" of the Green New Deal is a question of whether there are suitable and sufficient real resources than can be mobilized to implement this ambitious approach to climate policy. Only after a careful resource accounting can we address the question of whether taxes and other means might be needed to reduce private spending to avoid inflation as the Green New Deal is phased in. Nersisyan and Wray provide a first attempt at resource budgeting for the Green New Deal, weighing available resources--including potential excess capacity and resources that can be shifted away from existing production--against what will be needed to implement the major elements of this plan to fight climate change and ensure a just transition to a more sustainable economic model.

Suggested Citation

  • Yeva Nersisyan & L. Randall Wray, 2020. "Can We Afford the Green New Deal?," Economics Public Policy Brief Archive ppb_148, Levy Economics Institute.
  • Handle: RePEc:lev:levppb:ppb_148
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    1. Pavlina R. Tcherneva, 2018. "The Job Guarantee: Design, Jobs, and Implementation," Economics Working Paper Archive wp_902, Levy Economics Institute.
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    Cited by:

    1. Yeva Nersisyan & L. Randall Wray, 2021. "Can Biden Build Back Better? Yes, If He Abandons Fiscal "Pay Fors"," Economics Public Policy Brief Archive ppb_155, Levy Economics Institute.

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