The “Green New Deal” Debunked, Part 1

“Green New Deal” makes no sense on economic grounds, either in spirit or in letter. Even if one endorsed a Keynesian economic framework in which the historical New Deal “worked,” it still would be nonsensical to implement such a program today, with very high (peacetime) debt loads and an economy at officially full employment. What’s more, the historical New Deal did not in fact work, but rather prolonged the Depression. When an economy is already on the ropes, the last thing it needs is for more resources to be allocated politically, or for more regulations to rain down from Washington.

 

 

 

 

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