A Green Stimulus Plan for a Post-Coronavirus Economy - CityLab
A group of U.S. economists, academics and policy makers say the Covid-19 pandemic is an opportunity to fix the economy — and the planet — for the long term.
If we’re going to recover from the coronavirus pandemic, then let’s do it in a way that shakes up the status quo. This is the message that a group of U.S. economists, professors, and veterans of the last financial crisis sent in a letter to Congress yesterday asking for “green stimulus” legislation to jump-start the economy in a way that controls for climate change and poverty.
They are asking for a $2 trillion commitment for programs that will create living-wage jobs, amped-up public health and housing sectors, and a pivot away from a fossil-fuels-based energy frame.
Under their plan, the stimulus would automatically renew every year at 4 percent of GDP, or $850 billion annually, as well as give the public more of a voice in whether — and how — large-scale corporations would get bailouts. For now, the coalition recognizes that the focus should be on stopping the spread of coronavirus and mitigating all related health risks.