Accelerating the green transformation in the USA: new deal for the economic crisis

Although the United Nations called for a 'Global Green New Deal' and the American Recovery and Reinvestment Act (ARRA) includes green incentives, there is far from a consensus on whether the Green New Deal will be a key solution to the economic crisis. To inform the debate, we investigate the relationship between carbon consumption and three major problems facing the US economy ? the financial crisis, rising energy prices, and climate change. Our analysis found that the wasteful consumption of finite fossil fuels and a lack of green competitiveness in the USA contribute to the unsustainable economic growth and the triple predicament of the existing carbon-based US economy. This study helps provide a framework for further analysis of more comprehensive green economic strategies that would allow real sustainable growth and provide viable solutions to both the climate crisis and the economic crisis.

Keywords: carbon-based economy, green economic transformation, sustainable growth, market forces, market failure, government role, green economics, Green New Deal, USA, United States, financial crisis, energy prices, climate change, green competitiveness, economic growth