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> The Green New Deal, if enacted as specified, would send us into a prolonged, generation-long recession. Source? The last New Deal helped get us out of the G

> The Green New Deal, if enacted as specified, would send us into a prolonged, generation-long recession. Source? The last New Deal helped get us out of the Great Depression. Seems crazy to suggest that a new similar one would cause one.

garmaine 7y ago
First point, the last new deal didn't get us out of the great depression. You might recall that the great depression lasted throughout the 1930's. It was World War 2 and its aftermath that ended the depression. But anyway, the only similarity is in the name. The FDR new deal built new infrastructure. The Green new deal replaces infrastructure. Adding infrastructure where there was none before increases productivity, and therefore causes economic growth. Replacing infrastructure has net-zero change and therefore while the activity adds to GDP, it has no lasting effect on the economy. And since it substitutes for things that would have led towards growth, it actually causes stagnation or decline. In the social sciences, this is known as the "broken window fallacy." There's a lot of papers you can find with those search terms. If you want an idea of the best-case scenario of what life would be like under the Green New Deal, look to Japan with it's 20+ years of economic stagnation. Except without nationalized pensions we'd be asking a whole generation to live through work-until-you-die conditions. I'm sorry, but I don't think I want to do that to my kids unless it is a real do-or-die scenario as the alarmists claim. But the alarmists are wrong. The world is not ending tomorrow, or even the day after. We can deal with the change at a pace that doesn't result in economic suicide.
dexterdog 7y ago
Saying the New Deal got us out of the Great Depression is like saying Gavrilo Princip started Word War I.
justsubmit 7y ago
Are you saying, then, that any legislation entitled "Foo Bar New Deal" will therefore have a positive effect? If so, I would like to propose a Pink New Deal. It's even better than the Green one, trust me. And it seems crazy to suggest otherwise.
- Miner49er 7y ago
  The legislation is similar, not just the name. It creates jobs, reduces wealth inequality, it builds new infrastructure, etc. It's a stimulus package, of sorts.
  - justsubmit 7y ago
    Wow, who could argue with such a great package. BTW, since you care about reducing wealth inequality, can you send a dono to my paypal?

garmaine 7y ago

First point, the last new deal didn't get us out of the great depression. You might recall that the great depression lasted throughout the 1930's. It was World War 2 and its aftermath that ended the depression. But anyway, the only similarity is in the name. The FDR new deal built new infrastructure. The Green new deal replaces infrastructure. Adding infrastructure where there was none before increases productivity, and therefore causes economic growth. Replacing infrastructure has net-zero change and therefore while the activity adds to GDP, it has no lasting effect on the economy. And since it substitutes for things that would have led towards growth, it actually causes stagnation or decline. In the social sciences, this is known as the "broken window fallacy." There's a lot of papers you can find with those search terms. If you want an idea of the best-case scenario of what life would be like under the Green New Deal, look to Japan with it's 20+ years of economic stagnation. Except without nationalized pensions we'd be asking a whole generation to live through work-until-you-die conditions. I'm sorry, but I don't think I want to do that to my kids unless it is a real do-or-die scenario as the alarmists claim. But the alarmists are wrong. The world is not ending tomorrow, or even the day after. We can deal with the change at a pace that doesn't result in economic suicide.

dexterdog 7y ago

Saying the New Deal got us out of the Great Depression is like saying Gavrilo Princip started Word War I.

justsubmit 7y ago

Are you saying, then, that any legislation entitled "Foo Bar New Deal" will therefore have a positive effect? If so, I would like to propose a Pink New Deal. It's even better than the Green one, trust me. And it seems crazy to suggest otherwise.

Miner49er 7y ago
The legislation is similar, not just the name. It creates jobs, reduces wealth inequality, it builds new infrastructure, etc. It's a stimulus package, of sorts.
- justsubmit 7y ago
  Wow, who could argue with such a great package. BTW, since you care about reducing wealth inequality, can you send a dono to my paypal?