IDEAS home Printed from https://ideas.repec.org/p/ags/tugdwp/179111.html
   My bibliography  Save this paper

Green Keynesianism: Beyond Standard Growth Paradigms

Author

Listed:
  • Harris, Jonathan M.

Abstract

In the wake of the global financial crisis, Keynesianism has had something of a revival. In practice, governments have turned to Keynesian policy measures to avert economic collapse. In the theoretical area, mainstream economists have started to give grudging attention to Keynesian perspectives previously dismissed in favor of New Classical theories. This theoretical and practical shift is taking place at the same time that environmental issues, in particular global climate change, are compelling attention to alternative development paths. Significant potential now exists for “Green Keynesianism” -- combining Keynesian fiscal policies with environmental goals. But there are also tensions between the two perspectives of Keynesianism and ecological economics. Traditional Keynesianism is growth-oriented, while ecological economics stresses limits to growth. Expansionary policies needed to deal with recession may be in conflict with goals of reducing resource and energy use and carbon emissions. In addition, long-term deficit and debt problems pose a threat to implementation of expansionary fiscal policies. This paper explores the possibilities for Green Keynesianism in theory and practice, and suggests that these apparent contradictions can be resolved, and that Green Keynesian policies offer a solution to both economic stagnation and global environmental threats.

Suggested Citation

  • Harris, Jonathan M., 2013. "Green Keynesianism: Beyond Standard Growth Paradigms," Working Papers 179111, Tufts University, Global Development and Environment Institute.
  • Handle: RePEc:ags:tugdwp:179111
    DOI: 10.22004/ag.econ.179111
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/179111/files/13-02HarrisGreenKeynesianism.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.179111?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Ackerman, Frank & Stanton, Elizabeth A., 2012. "Climate risks and carbon prices: Revising the social cost of carbon," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 6, pages 1-25.
    2. Frank Ackerman & Elizabeth A. Stanton, 2013. "Climate Impacts on Agriculture: A Challenge to Complacency?," GDAE Working Papers 13-01, GDAE, Tufts University.
    3. Jonathan Harris, "undated". "Ecological Macroeconomics: Consumption, Investment, and Climate Change," GDAE Working Papers 08-02, GDAE, Tufts University.
    4. Jonathan M. Harris, 2013. "Green Keynesianism: Beyond Standard Growth Paradigms," GDAE Working Papers 13-02, GDAE, Tufts University.
    5. Jonathan M. Harris & Neva R. Goodwin (ed.), 2009. "Twenty-First Century Macroeconomics," Books, Edward Elgar Publishing, number 13112.
    6. Timothy A. Wise & Sarah E. Trist, "undated". "Buyer Power in U.S. Hog Markets: A Critical Review of the Literature," GDAE Working Papers 10-04, GDAE, Tufts University.
    7. Jonathan M. Harris, "undated". "The Macroeconomics of Development without Throughput Growth," GDAE Working Papers 10-05, GDAE, Tufts University.
    8. Zarsky, Lyuba, 2010. "Climate-Resilient Industrial Development Paths: Design Principles and Alternative Models," Working Papers 179080, Tufts University, Global Development and Environment Institute.
    9. Julie A. Nelson, "undated". "The Relational Economy: A Buddhist and Feminist Analysis," GDAE Working Papers 10-03, GDAE, Tufts University.
    10. Julie A. Nelson, "undated". "Care Ethics and Markets: A View from Feminist Economics," GDAE Working Papers 10-02, GDAE, Tufts University.
    11. Timothy A. Wise, "undated". "Agricultural Dumping Under NAFTA: Estimating the Costs of U.S. Agricultural Policies to Mexican Producers," GDAE Working Papers 09-08, GDAE, Tufts University.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jonathan M. Harris, 2016. "Population, resources and energy in the global economy: a vindication of Herman Daly’s vision," Chapters, in: Joshua Farley & Deepak Malghan (ed.), Beyond Uneconomic Growth, chapter 4, pages 65-82, Edward Elgar Publishing.
    2. Dzeraviaha, Ihar, 2018. "Mainstream economics toolkit within the ecological economics framework," Ecological Economics, Elsevier, vol. 148(C), pages 15-21.
    3. Jan Siegmeier & Linus Mattauch & Max Franks & David Klenert & Anselm Schultes & Ottmar Edenhofer, 2015. "A Public Finance Perspective on Climate Policy: Six Interactions That May Enhance Welfare," Working Papers 2015.31, Fondazione Eni Enrico Mattei.
    4. Capaldo, Jeronim, 2014. "Trade Hallucination: Risks of Trade Facilitation and Suggestions for Implementation," Working Papers 179115, Tufts University, Global Development and Environment Institute.
    5. Agustín García & María Teresa & García-à lvarez & Blanca Moreno, 2017. "Iberian Electricity Sector: A transition towards a more liberalized and sustainable market," GDAE Working Papers 17-01, GDAE, Tufts University.
    6. Harris, Jonathan M., 2013. "Green Keynesianism: Beyond Standard Growth Paradigms," Working Papers 179111, Tufts University, Global Development and Environment Institute.
    7. Neva Goodwin, 2014. "Prices and Work in The New Economy," GDAE Working Papers 14-01, GDAE, Tufts University.
    8. Lynne Chester & Joy Paton, 2013. "The economic–environment relation: can post-Keynesians, Régulationists and Polanyians offer insights?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 106-121.
    9. Canh Q. Le & Hoang-Mai T. Bui, 2022. "Optimal economic restructuring to reduce carbon emissions intensity using the projected gradient algorithm," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(5), pages 6271-6287, May.
    10. Guarini, Giulio & Porcile, Gabriel, 2016. "Sustainability in a post-Keynesian growth model for an open economy," Ecological Economics, Elsevier, vol. 126(C), pages 14-22.
    11. Moataz Elshimy & Khadiga M. El-Aasar, 2020. "Carbon footprint, renewable energy, non-renewable energy, and livestock: testing the environmental Kuznets curve hypothesis for the Arab world," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(7), pages 6985-7012, October.
    12. Jeronim Capaldo, 2014. "Trade Hallucination: Risks of Trade Facilitation and Suggestions for Implementation," GDAE Working Papers 14-02, GDAE, Tufts University.
    13. Hardt, Lukas & O'Neill, Daniel W., 2017. "Ecological Macroeconomic Models: Assessing Current Developments," Ecological Economics, Elsevier, vol. 134(C), pages 198-211.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jonathan M. Harris, 2016. "Population, resources and energy in the global economy: a vindication of Herman Daly’s vision," Chapters, in: Joshua Farley & Deepak Malghan (ed.), Beyond Uneconomic Growth, chapter 4, pages 65-82, Edward Elgar Publishing.
    2. Neva Goodwin, 2014. "Prices and Work in The New Economy," GDAE Working Papers 14-01, GDAE, Tufts University.
    3. Nelson, Julie A., 2011. "Would Women Leaders Have Prevented the Global Financial Crisis? Implications for Teaching about Gender, Behavior, and Economics," Working Papers 179096, Tufts University, Global Development and Environment Institute.
    4. Nelson, Julie A., 2012. "Are Women Really More Risk-Averse than Men?," Working Papers 179104, Tufts University, Global Development and Environment Institute.
    5. Julie A. Nelson, 2012. "Poisoning the Well, or How Economic Theory Damages Moral Imagination," GDAE Working Papers 12-07, GDAE, Tufts University.
    6. Nelson, Julie A., 2012. "Poisoning the Well, or How Economic Theory Damages Moral Imagination," Working Papers 179107, Tufts University, Global Development and Environment Institute.
    7. Jeronim Capaldo, 2014. "Trade Hallucination: Risks of Trade Facilitation and Suggestions for Implementation," GDAE Working Papers 14-02, GDAE, Tufts University.
    8. Ackerman, Frank & Stanton, Elizabeth A., 2013. "Climate Impacts on Agriculture: A Challenge to Complacency?," Working Papers 179109, Tufts University, Global Development and Environment Institute.
    9. Capaldo, Jeronim, 2014. "Trade Hallucination: Risks of Trade Facilitation and Suggestions for Implementation," Working Papers 179115, Tufts University, Global Development and Environment Institute.
    10. Hardt, Lukas & O'Neill, Daniel W., 2017. "Ecological Macroeconomic Models: Assessing Current Developments," Ecological Economics, Elsevier, vol. 134(C), pages 198-211.
    11. Foley, Duncan K. & Rezai, Armon & Taylor, Lance, 2013. "The social cost of carbon emissions: Seven propositions," Economics Letters, Elsevier, vol. 121(1), pages 90-97.
    12. Jonathan M. Harris, "undated". "The Macroeconomics of Development without Throughput Growth," GDAE Working Papers 10-05, GDAE, Tufts University.
    13. Urhammer, Emil & Røpke, Inge, 2013. "Macroeconomic narratives in a world of crises: An analysis of stories about solving the system crisis," Ecological Economics, Elsevier, vol. 96(C), pages 62-70.
    14. Rezai, Armon & Taylor, Lance & Mechler, Reinhard, 2013. "Ecological macroeconomics: An application to climate change," Ecological Economics, Elsevier, vol. 85(C), pages 69-76.
    15. Halkos, George & Paizanos, Epameinondas, 2015. "Environmental Macroeconomics: A critical literature review and future empirical research directions," MPRA Paper 67432, University Library of Munich, Germany.
    16. Antonio Turrent Fernández & Timothy A. Wise & Elise Garvey, 2012. "Achieving Mexico’s Maize Potential," GDAE Working Papers 12-03, GDAE, Tufts University.
    17. Fernández, Antonio Turrent & Wise, Timothy A. & Garvey, Elise, 2012. "Achieving Mexico’s Maize Potential," Working Papers 179101, Tufts University, Global Development and Environment Institute.
    18. Røpke, Inge, 2016. "Complementary system perspectives in ecological macroeconomics — The example of transition investments during the crisis," Ecological Economics, Elsevier, vol. 121(C), pages 237-245.
    19. Miklós Antal & Jeroen C.J.M. van den Bergh, 2014. "Macroeconomics, Financial Crisis and the Environment: Strategies for a Sustainability Transition. WWWforEurope Policy Paper No. 10," WIFO Studies, WIFO, number 47013.
    20. Miklós Antal & Jeroen C.J.M. van den Bergh, 2014. "Macroeconomics, Financial Crisis and the Environment. Strategies for a Sustainability Transition," WIFO Working Papers 464, WIFO.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:tugdwp:179111. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/gdtufus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.