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The Green New Deal is awful but unlikely

The Green New Deal is awful but unlikely

Benjamin Zycher writes on AEI that despite the Green New Deal being disastrous, the political backlash that will occur as a result of a higher cost of living and less reliable energy, makes it unlikely to be implemented.

The C3 Take
  • The Green New Deal is not a serious climate proposal, instead it is an overriding of our economic system.
  • The GND only offers vague policy objectives with no definite way of decarbonizing our economy.
  • The backlash that policymakers would face for implementing Green New Deal-like policies will prevent them from being fully implemented.

“The adverse economic effects of a net-zero policy, even in its narrower dimension, would be huge, emerging sooner rather than later, and carrying with them serious political impacts. My estimate of the direct cost of only the electricity component of the Green New Deal is about a half trillion dollars per year, or about $4,000 annually per U.S. household, and that is based on a set of highly conservative assumptions.”

Read the full article here.

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