The idea is much more important.
That idea is that a great deal must change. That is the essence of the Green New Deal.
In the face of climate crisis – and Australia appears to be at the forefront of the immediate, or at least newsworthy, crisis right now – the idea that we can carry in as before is notjust absurd, but is profoundly dangerous.
OK, so let’s deal with climate change then.
Second, there is no market solution to this crisis: markets cannot cope with externalities of this sort.
As Nordhaus, Stern, Weizman, Quiggin, Tol and every other economist who has even looked at the problem insist, only markets can deal with such externalities. We add a Pigou Tax and then leave markets be to chew through the problem.
But then of course Snippa disagrees with the entirety of the economics profession – for he doesn’t know any economics.