A Centuries-Old Idea Could Revolutionize Climate PolicyBreaking News
tags: climate change, regulation, Alexander Hamilton, Green New Deal
The economic thinker who most influenced the Green New Deal isn’t Marx or Lenin. No, if you want to understand Alexandria Ocasio-Cortez’s bid to remake the economy to fight climate change, you need to read Hamilton.
Yes, Alexander Hamilton. Long before he was associated with theatrical hip-hop, former Treasury Secretary Hamilton called for policies that sound familiar to us today. Like Representative Ocasio-Cortez, he wanted massive federal spending on new infrastructure. Like Donald Trump, he believed that very high tariffs can nurture American manufacturing. And like Elizabeth Warren, he was willing to bend the Constitution to reform the financial system.
Hamilton, in short, successfully used the power of the federal government to boost manufacturing, to pick winners and losers, and to shape the fate of the U.S. economy. He is the father of American industrial policy: the set of laws and regulations that say the federal government can guide economic growth without micromanaging it. And the Green New Deal, for all its socialist regalia, only makes sense in light of his capitalistic work.
In the days since Ocasio-Cortez debuted the Green New Deal, consensus has hardened: It is legislation by listicle. “An aspirational climate policy wish list,” writes the democratic socialist Ryan Cooper. “A needlessly long wish list,” saysThe New York Times’ David Leonhardt. “An untrammeled Dear Santa letter without form, purpose, borders, or basis in reality,” adds National Review’s Charles C. W. Cooke, in Buckleyan reverie.
comments powered by Disqus
- ‘Lock me up’: The last man to be arrested for defying Congress during an investigation
- Faith made Harriet Tubman fearless as she rescued slaves
- A Turkish dam is about to flood one of the oldest continuously settled places on Earth
- Soldiers got Medals of Honor for massacring Native Americans. This bill would take them away.
- UNC Will Give Silent Sam to a Confederate Group — Along With a $2.5-Million Trust
- The Ten Best History Books of 2019
- ‘Well Worth Saving’
- Anne Boleyn Has Had a Bad Reputation for Nearly 500 Years. Hayley Nolan Wants to Change That
- James Grossman Writes Article on Career Diversity: "Revising Revisited: Words Matter When It Comes to Career Diversity"
- Review: A Gospel for the Poor: Global Social Christianity and the Latin American Evangelical Left