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The recent proposal of a #GreenNewDeal to reduce US greenhouse-gas emissions and expand public investments in renewable energy has been dismissed by much of America's political establishment as an overly ambitious "dream." 1/n project-syndicate.org/commentary/neo…
But the real fantasists are those who believe "market-based solutions" can overcome climate change. 2/n
Three main pillars of neoliberlism have halted climate action in its footsteps:
1) Decentralizing democracy
2) Defunding public investment
3) Deregulating the economy 3/n
1) Decentralizing democracy
2) Defunding public investment
3) Deregulating the economy 3/n
Still, to achieve the Green New Deal’s goal of net carbon neutrality in ten years will require not just an economy-wide carbon price-and-dividend policy, but also large-scale public investment and complementary regulations. 4/n
Taken together, these measures could mobilize America’s latent productive capacities in ways not seen since World War II. Without them, the global effort to tackle climate change will have a snowball’s chance in Hell. /fin
