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Doomberg & Steve Keen: The Green New Deal and Energy Security

Forward Guidance

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The Green New Deal Promotes the Production of Energy

In order to produce the energy alternatives on offer, we need to divert existing energy that we are producing today. The price elasticity of demand for primary fuels is incredibly inelastic. This is an emergency. It's World War II on steroids. So you have to do it as fast as you can. And given the scale that I think we're going to face on a grand scale, we might regard World War II rations with envy at a collective level if we actually see this happen.

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