The Case for the Green New Deal

by Ann Pettifor

The GND has the potential of becoming one of the largest global campaigns of our times, and it started in Ann Pettifor's flat. In 2008, the first Green New Deal was devised by Pettifor and a group of English economist and thinkers, but was ignored within the tumults of the financial crash. A decade later, the ideas was revived within the democratic socialists in the US, forefront by Alexandria Ocasio Cortez. The Green New Deal demands a radical and urgent reversal of the current state of the global economy: including total de-carbonisation and a commitment to fairness and social justice. Critics on all sides have been quick to observe that the GND is a pipe dream that could never be implemented, and would cost the earth. But, as Ann Pettifor shows, we need to rethink the function of money, and how it works within the global system. How can we bail out the banks but not the planet? We have to stop thinking about the imperative of economic growth-nothing grows for ever. The program will be a long term project but it needs to start immediately.

Genres: Politics, Nonfiction, Environment, Economics, Climate Change, Science, Sustainability

208 pages, Hardcover

Published October 8, 2019

About the author

Ann Pettifor is a director of Policy Research in Macroeconomics (PRIME), Honorary Research Fellow at the Political Economy Research Centre at City University (CITYPERC), and a fellow of the New Economics Foundation, London.

She is best known for correctly predicting the Global Financial Crisis in several publications including The New Statesman (Coming soon: the new poor) and her 2006 publication The Coming First World Debt Crisis.

Pettifor's background is in sovereign debt. She was one of the leaders in the Jubilee 2000 debt campaign which succeeded in writing off $100 billion of debts (in nominal terms) owed by 35 of the poorest countries. She is also Executive Director of Advocacy International, which advises governments and organisations on matters relating to international finance and sustainable development.

She recently published Just Money: How Society Can Break the Despotic Power of Finance.

Reviews

[Yxas · Rating 5 out of 5]

I should've brushed up on monetary theory, fiscal policy and Bretton Woods before reading this. I'll read this again in the future, and write another review then.

For now, whether you're in favour of the Green New Deal or not, this deserves 5* for providing a clear, uncompromising description of what the GND is, and the economic and social transformations we'll need to undertake in order to fund it.

[Steffi · Rating 4 out of 5]

Plans for a progressive transformation didn’t end with Bernie dropping out of the presidential race, so dry your eyes, fellow Bernie Bros, and keep reading 😊

“The Case for the Green New Deal” (VERSO, 2019) by Ann Pettifor, British political economist and UK Labour left advisor. I also attended a brief workshop on left-wing economics with her at last year’s The World Transformed festival so was curious to read about the British Green New Deal in more detail. Although this book is, rightly so, is more of a light read manifesto for wider consumption rather than a detailed economic analysis underpinning the GND.

A few interesting take-aways include a comparison between the US Green New Deal as championed by AOC and the much more internationalist and ‘radical’ UK Green New Deal championed by Corbyn and John McDonnel.

I think we all agree that we require MASSIVE investments in green technologies and industry to begin the rather urgent green transformation of our economy and Pettifor argues along the lines of most Green New Deal theorists, with some form of updated Keynesian monetary theory (similar to Modern Money Theory) with the key policy recommendation of ‘debt financed’ public investments in green infrastructure and tax-paying green jobs which would refinance the budget. Of course, this would also require an end to wider neoclassical economic core principles, such as the independence of central banks, free movement of capital etc.

The elephant in the room of course remains whether the conditions for a new industrial revolution - green or otherwise - exist under capitalism and within a profit logic. This comes down to the fundamental difference between a Marxist and Keynesian monetary theory – from a Marxist point of view a shift in monetary and fiscal policy envisaged by the Green New Deal alone do not address and overcome the profit logic – the essence of capitalism in simple terms – required to transform the economy (as private investment will only invest in green industries as long as it’s profitable to do so). There’s some talk though in some British Green New Deal versions of nationalizing part of the financial system and economy, re-introducing forms of capital controls, and expanding new non-capitalist forms of production (value creation). All oft this goes way beyond the original ‘New Deal’ from the 1930s, but of course, we must start somewhere.

[Carlos Martinez · Rating 4 out of 5]

'The Case for the Green New Deal' succinctly explains what the Green New Deal is, where the idea came from, why it's necessary, and how to make it happen. As an economist and an expert in monetary theory, Ann Pettifor is uniquely well placed to describe how the GND can be funded, and the details of this constitute the major contribution of the book. The good news is that, with a tightly regulated financial system based on publicly-controlled and accountable central banks, it is eminently possible to fund a Green New Deal that can ensure that the developed countries rapidly decarbonise their economies, eliminate waste, transfer green technology to the rest of the world, and build a fairer, more equal society in the process.

The GND represents a set of economic and political reforms that, in combination, form a platform that can unite hundreds of millions. As such, it should be a key plank for progressive parties in Europe, North America and Australia. In a world of "common but differentiated responsibility", the GND is a good fit for the wealthy countries.

[Luc · Rating 5 out of 5]

Ann Pettifor gives us a brilliant introduction to a radical transformation program of advanced economies towards a more inclusive and sustainable economic model. The overall goal is to subordinate finance to the collective welfare and to promote a steady growth model that will benefit all. According to Pettifor, it will require major changes in how we conduct monetary policy and serious reforms of our fiscal policy.

[dana · Rating 1 out of 5]

Deeply frustrating, but at least it isn't MMTslop.

[Aine · Rating 4 out of 5]

Usually I judge a book on whether I would recommend it to a friend. I will not only be recommending The Case For The Green New Deal, I’ll be forcing it into people’s hands.

Pettifor doesn’t go in much for eloquent images of a dying planet but neither does she go in for defeatism. Having stated that the Green New Deal is “a blueprint for bringing about that urgent system-wise reorganisation within a short time period”, she calmly and coherently explains US imperialism through the dollar, credit-driven expansion, the last 200 years in the history of the financial system and then how central banks should be seen as a leverage point for democratically managing capital to bring about the Green New Deal: public and private projects can be funded through loan-finance at low interest rates and then the employment created by this provides the state with taxation.

The quiet, calm style makes the ideas appear not only democratic but extremely sensible.

“The Green New Deal is a demand for a revolution in international financial relationships, in the globalised economy, and in humanity’s relationship to nature. We demand an end to the imperialism of the dollar. An end to the toxic ideology and institutions of capitalism, based on extreme individualism, greed, consumption and competition - and fuelled by spiralling levels of unregulated credit. Instead we insist and will uphold the boundaries and limits imposed by the capacities of both the ecosystem and the economy. We regard it as an urgent priority that the top 20 percent of the world’s big emitters, responsible for 70 per cent of global emissions, are made to radically reduce their carbon use. Carbon equity - between North and South, taking existing stocks of carbon into account - is fundamental to the Green New Deal. Finally, we demand - and will build - an economy based on social and economic justice, one that celebrates the altruism, cooperation and collective responsibility that is a characteristic of human nature.

“The Green New Deal can mobilise the efforts of millions of people standing up to the threat of earth systems breakdown, financial sector failure and globalised economic inequality and insecurity. Beneath its canopy we hope to unite and inspire vast numbers of activists across the world and in turn to trigger state action to subordinate finance to the interests of society and the ecosystem - thereby ensuring a loveable planet for people alive today and for future generations. All the while, we should not forget - where there is no struggle, there is no progress.”

[Tim · Rating 3 out of 5]

To be honest it’s difficult for me to give a fair review of this book. It really needs a good degree of economic literacy to grasp, and criticise, the case it’s making for a Green New Deal. It may be that that case is well argued and on firm ground, or it could be deeply flawed and naive. I certainly can’t judge either way. That said, I did read it all the way through and, given the caveat above, I didn’t find myself invigorated by its arguments. There’s a strong theme running through the book that the global financial system is deeply flawed and needs a complete overhaul. Indeed, that seems to be the main thrust of a large part of the book, the GND seeming a secondary concern. The latter part of the book takes a wider view, but I was still left with a feeling that the aims of the author and those whose thinking she promotes are just too radical and never going to happen. Which may be very bad news for all of us.

[Freya · Rating 3 out of 5]

3/5 I found this book very interesting reading and provided me with some new perspectives on how the economics of a shift to a GND might look like. However, at points I struggled with following along with the book and felt it could have been made much for approachable and accessible. Whilst I understood in theory what the book was talking about, e.g. with regards to fiscal policy/monetary policy/QE, I felt that there was not enough economic explanation or examples given for the information to effectively lodged in my brain and to be able to confidently share these ideas with others. A good read but the economics requires quite a high level of understanding.

[Ryan · Rating 4 out of 5]

Got to read an advance copy, and it is far more comprehensive in its analysis of our current political and economic system than I expected. This is a book that everybody should read.

[Zane Smith · Rating 3 out of 5]

this is ~very~ economics oriented, so if you're not into that, you won't like it

[Keith Akers · Rating 3 out of 5]

Despite the title, Pettifor never really made a case for the Green New Deal (=GND). It's not that her arguments fail, it's that she never makes them. Nevertheless, the book was better than I thought and she does make some interesting points, so it's definitely worth taking a look at, but see below.

1. This book is not very well edited. Even though she makes some good points, a number of them are not clear and her editor should have pointed this out. And there's NO INDEX, so we can't try to get in there and ferret out her thought process.

2. There is no indication that she is even aware of the debate over whether the GND is feasible in practical terms --- that is, not just possible in the sense that we can build solar panels and wind turbines, but that we will get usable energy out of GND. This would involve talking about such things as battery backups, energy return on energy invested (EROEI), industrial heat, supplies of rare earth elements, and so forth.

3. Nevertheless, her discussion of the financing of the GND is interesting. One strong point is that we cannot allow the countries which are strong economically (with an export surplus) to dominate and exploit the countries which are weak, because they are "less developed" and dependent on capital from the aforementioned strong countries.

4. Another strong point: she clearly wants a steady-state economy and a less consumptive economy. On p. 66-67 she says: ". . . we must be clear about what kind of world we want . . . A world in which labor substitutes for carbon: a decarbonized economy will be a job-rich, labor-intensive economy. In it, we will do far more walking and cycling; we will not fly; we will give up meat and consume local, seasonal, slow food." That's great, and I agree! However, she most definitely does NOT make it "clear." She waits until she's on p. 67 to mention it, and does not elaborate on it or make a "case" for it. As far as I can see, this is virtually the only place where she mentions livestock agriculture.

5. Yet another strong point: she draws attention to the idea of the reserve currency. This is a murky yet critical economic point. The U. S. dollar is currently, in practical terms, the reserve currency for the world, and this means that if we need to borrow money, we can just print it because so many countries owe things in dollars. Other countries have to worry about the effects that "printing their own money" would have on balance of trade stuff, inflation, and whatnot, so that when THEY get in trouble (e. g. Greece), they have to get into austerity measures. Not us! This gives us a chance to warp the world economy with our shenanigans.

6. She says that the UBI (universal basic income) amounts to a "flat tax in reverse" because money would go equally to the rich and the poor, and advocates instead UBS, which I now realize is "universal basic services." (Her editor should have insisted that she define and explain these terms; I may have missed it, but didn't see her discussion.) I don't agree with this assessment; it seems a rather simple matter to couple a UBI with a steep progressive income tax which would have the net effect of taking from the rich and giving to the poor. UBS sounds to me like "payments in kind" and a sort of paternalism in doling out welfare benefits, which often gives the poor what they don't need and denies them access to what they do, but could buy, if they just had the income to do so. But this was an interesting point and a reminder that UBI is not automatically good.

I'm not 100% positive about these points. I'd like to go back and verify my impressions, by searching the index for terms like "electricity," "livestock," or "UBI," but I can't because, well, there's no index.

My bias is that I am skeptical of the GND. It seems like a lot of technology and money trying to maintain our consumer culture but avoiding the worst consequences of climate change, when what we really need is to consume less --- a LOT less, with less consumption, a lower human population, and getting rid of livestock . I think the author agrees on several of these points, but I don't see the case being made.

So, interesting book! Send it back to the author with a request for some further details. And an index. Did I mention that this book doesn't have an index?

[Zainab · Rating 4 out of 5]

The Green New Deal may be the defining global revolution of the next decade – if we get behind it. That’s why Ann Pettifor’s book is so timely. For a book that analyses heavy economic concepts, I found it conversational and surprisingly quick to read. The majority of the book is a critique of the globalised financial system and it’s preoccupied with showing how we can raise the funds for the Green New Deal through various economic models (if we can garner enough political will). I learnt so much about how the economy works, sometimes to the point of frustration when one begins to understand the money/methods that are readily available for an emergency like ours.

I’d hoped the book would be a thorough analysis of what British (and American) Green New Deals are proposing, but it only focuses on how we begin to transform the economic systems we have in place. It uses great historical examples to demonstrate that radical change is possible, and it compares the precise points on which economists differ on the Green New Deal. There is some repetition throughout, and there are some ideas I wished she’d expanded upon to make the case. Despite this, I appreciate that Ann Pettifor has opened up a new language of economics for me – something that I certainly need to build on with further reading.

[Erik · Rating 4 out of 5]

Apparently, when it comes to Green New Deals, AOC's isn't the only one around. A group in the UK has also been planning a GND for years. Not sure who's came first, but the idea is to spread them around the world. But not through the UN or international agreements, which don't work. Instead, GNDs would be passed by national governments like the US or the UK. That sounds like a smart strategy.

Pettifor is a British economist who has consulted with AOC on how to pay for a GND. To start with, she thinks that there's plenty of money to go around, if you pull it out of frivolous or unproductive investments today. This book contains detailed discussions of how it could work.

Overall, Pettifor makes a convincing case that the GND is doable in the US and other developed nations just as it is in less wealthy countries. She shares AOC's emphasis on equity and also argues that a GND can address longstanding problems of wealth inequality both inside nations and between them. This part is less convincing but that's just because it's so speculative.

Is green capitalism the only practical alternative to climate chaos? Or can we solve more than one problem at the same time? Only time will tell. But Pettifor's book makes a solid contribution to thinking on the GND.

[Yan Xin · Rating 5 out of 5]

A great book explaining the principals of Green New Deal.

[CJ · Rating 3 out of 5]

Brian - Keynes is everywhere!

[Mickey Dubs · Rating 3 out of 5]

The most depressing thing about reading this is that it was published six years ago and still no one's really done anything about this whole 'climate change' thing.

[Geoff Cooper · Rating 2 out of 5]

I'm a supporter and proponent of the Green New Deal (GND), but this book is honestly pretty boring due to its wonky approach to the subject. Rather than making a firm case for the GND from a systemic perspective or contrasting the current system with another vision of how the world could be organized, ninety percent of the book is in the weeds about monetary policy and fairly run-of-the-mill Keynesian economics.

While I do believe that the GND represents a paradigmatic shift from an abusive, damaging, and ultimately unsustainable system, and for that reason should be pursued in the short term, Pettifor's laser focus on its financing makes clear that the GND, in its current iteration, would inevitably have the effect of propping up the current system rather than moving past it, despite Pettifor's halfhearted critiques of capitalism.

The two most compelling takeaways from the book are: 1) we can always afford whatever we decide to do (which, to me, has always been a given); and 2) until we figure out a way to combat and overcome the globalized financial system, everything else matters very little since all of policy is driven by market forces no matter who is in power.

Unfortunately, I didn't find Pettifor's conclusions on these points to be very compelling since their effects would ultimately be confined to the limits of the current system.

[Steven H · Rating 5 out of 5]

A BRITISH PERSPECTIVE ON THE GREEN NEW DEAL

Humanity, but on our knowledge of human genius, empathy, ingenuity, collaboration, integrity Author Ann Pettifor wrote in the Preface to this 2019 book, “We Green New Dealers know we can achieve that in the ten years or so that the UN’s scientists believe are left to us. One reason it is achievable is this important fact: just 10 percent of the global population are responsible for around 50 percent of total emissions. Tackling the consumption and aviation habits of just 10 percent of the global population should help drive down 50 per cent of total emissions in a very short time… Furthermore, we know we can do this because we have, in the past, undertaken huge transformations within less time than that suggested by the 2018 IPCC [Intergovernmental Panel on Climate Change] Report… There is hope, and it rests not on a utopian vision of humanity, but on our knowledge of human genius, empathy, ingenuity, collaboration, integrity and courage. We know that it is possible to transform the globalized financial system because we have done it before---and in the relatively recent past. That too will be a theme of this book.” (Pg. xv-xvii)

She recounts, “Alexandria Ocasio-Cortez [AOC]… [won] a victory that was to electrify millions of young Americans and reinvigorate the youth wing of the Democratic Party... The day after that victory the think tank where I work, Policy Research in Macroeconomics (PRIME)… agreed to convene a small, trusted group of British economists… to deepen and broaden the discussion of how to finance AOC’s program. We had a lot in common, including a share commitment to the Green New Deal (GND).” (Pg. 1-2) She continues, “her team came up with their own, ambitious Green New Deal---a ‘plan to solve three critical problems at once: the threat climate change poses to America’s security, poverty and inequality, and the racial wealth gap.’ Central to the US GND is the Job Guarantee, to give ‘every unemployed American who wants one, a job building energy-efficient infrastructure.’” (Pg. 5)

She explains, “The Green New Deal demands major system change: both economic and ecological system change. It demands structural (governmental and inter-governmental) changes… in our approach to the financialized, globalized economy and ecosystem… such change must be driven by a radical structural transformation of the economy, particularly the financial sector… To tackle climate change, we need simultaneously to tackle the root cause of growing toxic emissions: a self-regulating, globalized financial system that pours exponential quantities of unregulated credit into the hands of speculators and consumers… Further, it is used to accelerate the extraction and consumption of the earth’s finite assets. Only once we switch off the ‘tap’ of ‘easy money’ will it be possible to switch off the flow of oil and other fossil fuels.” (Pg. 7-9)

She goes on, “The Green New Deal is, therefore, a… comprehensive PLAN for stemming the breakdown of earth’s life support systems… The GND recognizes that in the future we must derive energy only from renewable sources… societies also need to end their dependence on a globalized economic system that drives climate breakdown and encourages toxic emissions; an economic system that leads to ecological imbalances … Its name is globalized, financialized capitalism.” (Pg. 9-10)

She acknowledges, “we Green New Dealers recognized that there are of course ecological, economic and political limitations to what society can ‘do’ within the framework of the monetary system. Nevertheless, provided they are managed by the visible hand of public authority, monetary systems cold help finance the radical and costly transition from a fossil fuel-based economy to one based on renewable energy… one of the first tasks will be for society to regain PUBLIC AUTHORITY over the national and international monetary system.” (Pg. 15)

She outlines a series of economic principles: “[1] … An economy that sustains like on earth… and will not exceed the nine ecological boundaries: stratospheric ozone depletion;… biodiversity loss and extinctions; chemical pollution …; climate change; ocean acidification; freshwater consumption and the global hydrological cycle; land system change; nitrogen and phosphorus flows to the biosphere and oceans; atmospheric aerosol loading… [2] Limited Needs, not Limitless Wants… [3] Self-Sufficiency… [4] A Mixed-Market Economy… [5] A Labor-Intensive Economy… [6] Monetary and Fiscal Coordination for a Steady State Economy… [7] Abandon delusions of Infinite Expansion… (Pg. 93-107)

She admits, “One question we will face is this: can the system really be transformed in such a short time? The honest answer is probably ‘no.’ It may already be too late. Another still honest answer is a provisional ‘yes’; it may be very late, but societies have transformed abruptly before… Led by political leaders, scientists and activists that have a real grasp of the scale of the emergency humanity faces, and with a proper sense of danger and the need for urgency, we could still make drastic changes. We may still have time.” (Pg. 119)

Perhaps surprisingly, she rejects Modern Monetery Theory (MMT): “[this assumes] that central banks can, and should, effectively print money for direct distribution to citizens or for direct financing of government spending. I disagree…” (Pg. 141)

She concludes, “The Green New Deal is a demand for a revolution in international financial relationships, in the globalized economy, and in humanity’s relationship to nature. We demand an end to the imperialism of the dollar. An end to the toxic ideology and institutions of capitalism, based on extreme individualism, greed, consumption and competition---and fuelled by spiraling levels of unregulated credit… The Green New Deal can mobilize the efforts of millions of people standing up to the threat of earth systems breakdown, financial sector failure and globalized economic inequality and insecurity… thereby ensuring a liveable planet for people alive today and for future generations. All the while, should not forget---where there is no struggle, there is no progress.” (Pg. 171-172)

This book will interest those studying GND proposals in both Britain, and the U.S.

[Brett · Rating 2 out of 5]

Read for Book Club at Birchbark Books, convened by Louise Ehrlich. British author and perspective. Too much jargon, too little concrete suggestions. Overly focused on the international monetary system. Not very useful.

[Michael · Rating 5 out of 5]

Ms Pettifor is a British journalist specializing in economics and finance and advisor to government at times. She is also a recipient of the Hannah Arendt award for political journalism. This book came out late last year- it is a short and concise argument for policy change not just to tackle climate change, but the international financial system that encourages the pollution and consumption driving climate change - no less than a total radical change of international banking. She starts off by showing this is not a new idea - the call was first made by Thomas Friedman in the NY Times in a column titled "A Warning from the Garden" in Januaray 2007. He pointed out that FDR's New Deal was not "built on a magic bullet, but rather a broad range of programs and industrial programs to revitalise America." And the call was taken up by President Obama by including it in his election platform. It was finally introduced to US Congress by Representative Alexandria Oscasio-Cortez in FEB 2019. It is a comprehensive plan with five major goals in a 10 year plan:
To reach net-zero greenhouse gas emissions trhough a fair and just transition for all communities and workers
To create millions of good, high-wage jobs, and ensure prosperity and economic security for all the people of the US
To invest in the infrastructure and industry of the US to sustainably meet the challenges of the 21st century
To secure clean air and water climate and community resilience, healthy food, access to nature and a sustainable environment for all.
To promote justice and equity by stopping current, preventing future and repairing the historic oppression of frontline and vulnerable communties.
To those who argue that a complete revamp cannot be done, she points to past abrupt changes, including taking currency off the gold standard which was first proposed by John Maynard Keynes at the conclusion of WWI. This was rejected in a letter by President Wilson written by his financial advisor, who also happened to be President of J P Morgan, one of the largest banks at the time. This rejection and thus stradling several countries with debts they couldn't repay led to the Great Depression and ultimately to WWII. It took FDR to eliminate the gold standard and dismantle what he called the "barbaric relic" that was the globalised financial system, done over one weekend. The dismantling of the system put in place by FDR and Keynes started by a London banker in 1962 and then continued in fits and starts by Nixon in 71 and then later President Clinton in the 90's. The Green New Deal seeks to overturn the current Global Financial world that allows the richest 1% of the world's population to speculate with money around the world including currency manipulation. This dealing in currency often is used as a weapon against any country that tries to raise the living standards and improve the lives of the bulk of its population and raise taxes on the ultra wealthy. This is not an easy read by any means as it deals with the minutiae of the workings of finance. However well worth the read for those working working towards social, economic and climate justice.

[Teenage Reads · Rating 5 out of 5]

Plot:
The Green New Deal is a political campaign that politicians have been throwing around about how to turn the country “greener” if they were elected. Some love it, some hate it, but what does this deal incorporate? Economist Ann Pettifor breaks down two Green New Deal propositions, the United States, and the United Kingdom, compare and contrast them, and talks about the economic history and idealizations behind these two campaigns. To achieve a zero-carbon economy by 2040, we need to look into 10% of the population responsible for 50% of emissions. That means, stop ignoring the financial market, and look into seeing what they are willing to do to change. The United States’ Green New Deal has five goals, most dealing with the economy in some way, as America focuses on the economy, where the United Kingdom’s Green New Deal has a more international outlook. If you hate the idea of the Green New Deal, read this book. If you do not know what it is, read this book. If you want more information about it, read this book. Get the picture? Amy Pettifor does a clear, uncompromising description of what this political deal is, and what are the economic and social changes needing to happen to achieve these net-zero carbon emissions goals.

Thoughts:
Wow, wow, wow, what a novel. Amy Pettifor really breaks into the United States and United Kingdom’s Green New Deals, and really explains the economic concepts both of them hold. Where their writing was nice, you do need a bit of background in history and economics to understand the extent of what Pettifor is talking about. Examples include Bretton Woods, fiscal policy, and monetary theory, but you do not need great details within these subjects, as Pettifor does an amazing job explaining the concepts that are more relevant to the Green New Deal. Pettifor does an outstanding job explaining the history and idea behind what the Green New Deal is, comparing the United States version to the United Kingdoms (keeping this comparison going throughout the novel), the economic changes that need to happen to accommodate the deal as well as social changes as well. The most fascinating section that I found interesting was the explanation on how Africa was made poor by free trade movements, and Pettifor went into their time at the Jubilee 2000 debt campaign. It is also a rare find for an environmental book that talks solely on the economy and central bank changes, and does not dive into green energy (like solar and wind turbines) which is what many people think a “green future” looks like. A short-ish novel (208 pages) with only 6 chapters, this book is a must-read for those interested in the Green New Deal, politics, economy, environment, and just what is going on in the world.

[Jeff Kaye · Rating 4 out of 5]

The Green New Deal is a US/UK attempt to frame the critical needs of the environment within economic policy and then the campaign for the changes needed to drive real change. It rests n various assumptions which I will not repeat here. This book provides a very easy to read introduction into the subject.

There are arguments to be had on how the world (at least the developed part) may settle for a limit on the extra 'things' to buy as we settle into a steady-state economy and how the perennial issue of quality of life (including the air we breathe, the wildlife around us etc) is measured when our whole psyche is focused on measurements such as GDP (or, in a time of Covid19, death number equivalence across the world).

There is an argument over MMT and Ann Pettifor's dislike of treasuries and national bank acting together to print money, in effect. This needs more evaluation as the Stephanie Kelton school of MMT gains attraction during the current pandemic.

There is also the need to drive change. Books on economics may or may not gain traction. The financialisation of the world (the owning of economic levers by the financial establishment) come about through writers and economic thinkers gaining the trust of wealthy individuals and companies that backed them, corrupted governments (national and local in the USA) and drove their theories into the mainstream. A serious focus on the GND will require their opponents to gain similar or greater attraction and governments to oppose the built in strength that the liberal economics movements now have. This book helps that movement but there is no clear line from where we are now to the place where Ms Pettifor suggests we need to get to.

A good book with critical outcomes.

[Caspar Bhalerao · Rating 4 out of 5]

In this book, Pettifor outlines a compelling appraisal of the Green New Deal (GND), with explanations of its fundamental tenets.

Whilst I found this book an illuminating read, I would echo many of the other reviews that this text requires a high baseline of economic and financial literacy to understand. It is then perhaps unsurprising that this argument for a GND is more of a technocrats dream, instead of the sharp manifesto that I was expecting. Nevertheless, I did enjoy reading this.

I found the book to be (unfortunately) prescient given the subsequent rise of: ‘strong men’, populism, inequality, inflation, climate breakdown, energy instability and deterioration of private infrastructure; over the past 5 years since publication. My main takeaway of the GND would how we might re-evaluate the growth-centric agenda (that measures quantative change) in favour of a ‘steady state economy’ that prioritises ‘development’ (qualitative change) instead.

Finally, the reference to Robert Kennedy’s speech on GDP fills me with some hope, that there may again be a new generation of politicians who escape the dogmatic pursuit of continued consumption.

“…the gross national product does not allow for the health of our children, the quality of their education or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country, it measures everything in short, except that which makes life worthwhile.”

[Bob · Rating 3 out of 5]

An important & early book on the Green New Deal. I really appreciated its arguments for the urgency & possibility, in Keynesian monetarist terms & its scathing critique of modern monetary theory. However, I do not find Pettifor's defense of hard ecological limits to growth convincing (not that there aren't important ecological limits, just that I'm unconvinced by the extent of them argued for here) & the book's commitment to localism & steady-state economics seems to me exactly the wrong tack to take in our era of ecological crises. & while I agree w/ the book that national financial action to ensure Green New Deals is vital, I'm also disturbed by this book's harder anti-internationalism. A better, more concrete, more tech-friendly, & more imaginative Green New Deal manifesto is Kate Aronoff, Alyssa Battistoni, Daniel Aldana Cohen, & Thea Riofrancos *A Planet to Win: Why We Need a Green New Deal*.

[Always-think-critically · Rating 2 out of 5]

Unfortunately, I had to take this book back. I really wanted to read about the GND and the credibility of this author was promising, but the jargon and sentence structure in the first two chapters alone were so confusing. I found myself rereading the same sentences and still not understanding.

I have a scientific background and consider myself to be relatively smart lol, but I still couldn’t get the hang of this book.

If you have a background in or a thing for business, then maybe you’ll have a better time reading this. However, to spread the GND message to all audiences and teach about how global economics/capitalism plays a dominant role in shushing environmentalism issues, this is not the book for that.
How can a book reach a wider audience, if it is difficult to interpret?

[Thoriq Fauzan · Rating 4 out of 5]

Being someone without econ background, reading this book hasn't been a very smooth ride. You might need many pauses and lots of googling to understand some economic terms and concept. Which is a good thing eh? This book successfully encouraged me to read more, helped me expand my list of things I know I don't know.

This book explains a really convincing argument on how to transform our economic system such that it benefits the masses and being environmentally conscious. Our main tool of doing so, is the monetary policy exercised by government and central banks, and the placing of regulation on credit creation. These arguments, however sound, still left me feeling like I should learn and read waay more to agree or to disagree.

[Tom King · Rating 2 out of 5]

This isn't sure whether it is a political polemic, an economic treatise, or a call to activists. It is too lacking in detail and at times sounds quite extreme - such as where it is suggested that one part of creating a 'steady state economy' will be replacing machines with labour, and that the state will need to find ways of keeping populations from growing.

Disappointingly weak and heavy on anti-capitalist rhetoric without proposing a serious democratic alternative - but also largely silent on the realities of autocratic states (especially China) and their far greater importance both to climate change and to the globalised economy.

Having wanted to read this to gain a sense of hope on what is an existential threat to the human race, I'm left with the question: is that all there is?

[Molly · Rating 3 out of 5]

I want to give this book 5 stars because I am an ardent supporter of the Green New Deal, but wow, it took me 6 months to read 175 ages?! I blame my slow reading on the fact that I was a sleep-deprived mom of a new baby during that time, but also this book gets very deep into economics, of which I’m woefully ignorant. Timely that I finished the book now, as I see that AOC re-introduced the Green New Deal this past week. I hope and pray that in these divided times we can come together to correct our course. In the meantime, I have a lot more studying to do and will be looking for other resources on this topic.

[Vanda Denton · Rating 5 out of 5]

We can have a fair and sustainable system.

Everyone should read this book. If, like me, you see no future in right-wing or left-wing political parties in democratic countries, and can see no other regime in the world to support, this could also be a working alternative for you. The GND binds together, sustainably, the economy, finance and the biosphere that our life on earth relies upon.
Ann Pettifor’s economics theory operates flawlessly, and she makes her well-researched case, backed up through references, in a pleasant, accessible style. There is no dodging the issue: we have to, we must, “change everything”. I highly recommend this book.

[Jack Fleming · Rating 3 out of 5]

I think this book is somewhat misleadingly named. By and large, rather than focusing on the cade for the Green New Deal, Pettifor instead devotes attention to it's mechanics - how the global economic system and dominant model would need to adapt in order to realise the GND.

In that effort, the book does a mixed job. Some points (particularly around shifting from a growth to a steady state model) are clear and well argued. But other points (particularly when it comes to banking and financial processes) are rather techy and inaccessible to a layperson, with too little time given to explaining meanings and basics for those of us who never studied economics or finance.