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Green Keynesianism: Beyond Standard Growth Paradigms

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  • Jonathan M. Harris
Abstract
In the wake of the global financial crisis, Keynesianism has had something of a revival. In practice, governments have turned to Keynesian policy measures to avert economic collapse. In the theoretical area, mainstream economists have started to give grudging attention to Keynesian perspectives previously dismissed in favor of New Classical theories. This theoretical and practical shift is taking place at the same time that environmental issues, in particular global climate change, are compelling attention to alternative development paths. Significant potential now exists for “Green Keynesianism†-- combining Keynesian fiscal policies with environmental goals. But there are also tensions between the two perspectives of Keynesianism and ecological economics. Traditional Keynesianism is growth-oriented, while ecological economics stresses limits to growth. Expansionary policies needed to deal with recession may be in conflict with goals of reducing resource and energy use and carbon emissions. In addition, long-term deficit and debt problems pose a threat to implementation of expansionary fiscal policies. This paper explores the possibilities for Green Keynesianism in theory and practice, and suggests that these apparent contradictions can be resolved, and that Green Keynesian policies offer a solution to both economic stagnation and global environmental threats.

Suggested Citation

  • Jonathan M. Harris, 2013. "Green Keynesianism: Beyond Standard Growth Paradigms," GDAE Working Papers 13-02, GDAE, Tufts University.
    • Handle: RePEc:dae:daepap:13-02
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    References listed on IDEAS

    as
    1. Jonathan Harris, "undated". "Ecological Macroeconomics: Consumption, Investment, and Climate Change," GDAE Working Papers 08-02, GDAE, Tufts University.
    2. Jonathan M. Harris, 2013. "Green Keynesianism: Beyond Standard Growth Paradigms," GDAE Working Papers 13-02, GDAE, Tufts University.
    3. Jonathan M. Harris & Neva R. Goodwin (ed.), 2009. "Twenty-First Century Macroeconomics," Books, Edward Elgar Publishing, number 13112.
    4. Jonathan M. Harris, "undated". "The Macroeconomics of Development without Throughput Growth," GDAE Working Papers 10-05, GDAE, Tufts University.
    5. Julie A. Nelson, "undated". "Care Ethics and Markets: A View from Feminist Economics," GDAE Working Papers 10-02, GDAE, Tufts University.
    6. Timothy A. Wise, "undated". "Agricultural Dumping Under NAFTA: Estimating the Costs of U.S. Agricultural Policies to Mexican Producers," GDAE Working Papers 09-08, GDAE, Tufts University.
    7. Ackerman, Frank & Stanton, Elizabeth A., 2013. "Climate Impacts on Agriculture: A Challenge to Complacency?," Working Papers 179109, Tufts University, Global Development and Environment Institute.
    8. Ackerman, Frank & Stanton, Elizabeth A., 2012. "Climate risks and carbon prices: Revising the social cost of carbon," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 6, pages 1-25.
    9. Timothy A. Wise & Sarah E. Trist, "undated". "Buyer Power in U.S. Hog Markets: A Critical Review of the Literature," GDAE Working Papers 10-04, GDAE, Tufts University.
    10. Zarsky, Lyuba, 2010. "Climate-Resilient Industrial Development Paths: Design Principles and Alternative Models," Working Papers 179080, Tufts University, Global Development and Environment Institute.
    11. Julie A. Nelson, "undated". "The Relational Economy: A Buddhist and Feminist Analysis," GDAE Working Papers 10-03, GDAE, Tufts University.
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    Cited by:

    1. Jonathan M. Harris, 2016. "Population, resources and energy in the global economy: a vindication of Herman Daly’s vision," Chapters, in: Joshua Farley & Deepak Malghan (ed.), Beyond Uneconomic Growth, chapter 4, pages 65-82, Edward Elgar Publishing.
    2. Dzeraviaha, Ihar, 2018. "Mainstream economics toolkit within the ecological economics framework," Ecological Economics, Elsevier, vol. 148(C), pages 15-21.
    3. Jan Siegmeier & Linus Mattauch & Max Franks & David Klenert & Anselm Schultes & Ottmar Edenhofer, 2015. "A Public Finance Perspective on Climate Policy: Six Interactions That May Enhance Welfare," Working Papers 2015.31, Fondazione Eni Enrico Mattei.
    4. Capaldo, Jeronim, 2014. "Trade Hallucination: Risks of Trade Facilitation and Suggestions for Implementation," Working Papers 179115, Tufts University, Global Development and Environment Institute.
    5. Agustín García & María Teresa & García-à lvarez & Blanca Moreno, 2017. "Iberian Electricity Sector: A transition towards a more liberalized and sustainable market," GDAE Working Papers 17-01, GDAE, Tufts University.
    6. Harris, Jonathan M., 2013. "Green Keynesianism: Beyond Standard Growth Paradigms," Working Papers 179111, Tufts University, Global Development and Environment Institute.
    7. Neva Goodwin, 2014. "Prices and Work in The New Economy," GDAE Working Papers 14-01, GDAE, Tufts University.
    8. Lynne Chester & Joy Paton, 2013. "The economic–environment relation: can post-Keynesians, Régulationists and Polanyians offer insights?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 106-121.
    9. Canh Q. Le & Hoang-Mai T. Bui, 2022. "Optimal economic restructuring to reduce carbon emissions intensity using the projected gradient algorithm," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(5), pages 6271-6287, May.
    10. Guarini, Giulio & Porcile, Gabriel, 2016. "Sustainability in a post-Keynesian growth model for an open economy," Ecological Economics, Elsevier, vol. 126(C), pages 14-22.
    11. Moataz Elshimy & Khadiga M. El-Aasar, 2020. "Carbon footprint, renewable energy, non-renewable energy, and livestock: testing the environmental Kuznets curve hypothesis for the Arab world," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(7), pages 6985-7012, October.
    12. Jeronim Capaldo, 2014. "Trade Hallucination: Risks of Trade Facilitation and Suggestions for Implementation," GDAE Working Papers 14-02, GDAE, Tufts University.
    13. Hardt, Lukas & O'Neill, Daniel W., 2017. "Ecological Macroeconomic Models: Assessing Current Developments," Ecological Economics, Elsevier, vol. 134(C), pages 198-211.

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