In this paper Deirdre de Búrca, who has been advocating a Green New Deal since 2009, discusses the politics and substance of such a Deal before tackling some of the monetary and financial issues relating to its implementation.
We urge the Irish government to recognise the existential aspect of environmental risk, as well as the complex challenges posed by the global financial system's high dependency on oil. Ireland is particularly vulnerable to financial collapse and its community banking sector needs to be strengthened and taxation reforms carried out in order to help mitigate this.
"The Green New Deal, if presented as a way of investing in energy techno-fixes, could be a misleading magic formula. If seen as a start of a dialogue about a wide ranging transformation of society including communities setting up arrangements to help each other, it could be helpful", writes Brian Davey.
Graham Barnes argues that the misallocation of credit by banks exacerbates instability and inequality, and results in the neglect of projects that aren't profitable. He proposes two possible solutions.
In this presentation given at the University of Nottingham on April 4, Brian Davey investigates the historical roots of the growth-based economy. He critiques the assumption that renewable energy could take over from fossil fuels while maintaining economic growth, and goes on to discuss some ways forward.
Feasta’s Mark Garavan suggests in an article in his blog that QE should be used only to buy new Solidarity Bonds issued by the European Investment Bank and European Investment Fund which then should only be used to invest in developing new Green economic activities and Green research. He goes on to suggest that the distribution mechanism should be the nation states but also, if not primarily, new regional co-operatives which co-ordinate local investment programmes in Green energy, food and social network provision.