In response to the climate crisis and the growing inequality and poverty due to neoliberalism, a series of anti-austerity Green New Deal (GND) proposals have been presented in Europe and the United States since 2018. A GND is a radical policy approach combining environmental and economic policies. In order to mitigate climate change, the transition to a zero-carbon society needs to happen in a shorter timespan than was previously anticipated. Addressing this need, the GND calls for massive investments while also keeping in mind the ‘just transition’ of jobs as well as the rectification of injustices related to wealth, gender, race, generation and so forth. The approach is based on an anti-austerity economic theory, meaning that its main source of funding is not additional taxes but rather the mobilisation of large-scale private-sector funds (e.g. pension funds) and, for countries whose governments have the power to create money, deficit spending.
To cite this article: PARK Seung-Joon, Uiko HASEGAWA and Tadasu MATSUO (2020) “On the Anti-Austerity Green New Deal”, Review of Environmental Economics and Policy Studies, 2020, 13(1), pp. 27-41
Translation: Kenji Hayakawa
This paper is an English translation of "On the Anti-Austerity Green New Deal" published in the Journal of Environmental Economics and Policy Studies, supported by Heinrich Böll Stiftung, Hong Kong Regional Office