Don Lavoie on the Green New Deal (timeless insight for today)

The proliferation of new forms of government interference into the market is certain to present many new challenges for the analyst in the future. . . . But I believe all these will prove susceptible to the Misesian critique of interventionism and . . . [to] a general typology into which any interventionist policy can be classified.-

– Don Lavoie (1982)

Don Lavoie (1951–2001), a leader of Generation Six of the Austrian School of Economics, published two books on government economic planning that inspire classical-liberal scholars today. Published 36 years ago, Rivalry and Central Planning: The Socialist Calculation Debate Reconsidered (Cambridge University Press) and National Economic Planning: What is Left? (Cato Institute) offer insight to today’s debate over the Green New Deal (GND).


The GND was described in a FAQ on the website of Alexandria Ocasio-Cortez (AOC) as follows.

The Green New Deal is a 10-year plan to create a greenhouse gas neutral society that creates unprecedented levels of prosperity and wealth for all while ensuring economic and environmental justice and security.

The Green New Deal achieves this through a World War 2 scale mobilization that focuses the robust and creative economic engine of the United States on reversing climate change by fully rebuilding our crumbling infrastructure, restoring our natural ecosystems, dramatically expanding renewable power generation, overhauling our entire transportation system, upgrading all our buildings, jumpstarting US clean manufacturing, transforming US agriculture, and putting our nation’s people to work doing what they do best: making the impossible possible.

Any large-scale transformation of society can create the risk of some people slipping through the cracks. That’s why the Green New Deal also calls for an upgrade to the basic economic securities enjoyed by all people in the US to ensure everybody benefits from the newly created wealth. It guarantees to everyone …..

Lavoie’s Insight for Today

Professor Lavoie dealt with total government planning in its pure versions, theoretical and applied. And he dealt with the mini-planning programs of

Conclusion

Don Lavoie once commented that being published is the next best thing to being immortal. Although he died (of cancer) far too young ( at age 52), his work shines brightly today.

In the age of the Green New Deal, Lavoie’s economic insights are, once again, prime time.

The post Don Lavoie on the Green New Deal (timeless insight for today) appeared first on Master Resource.

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September 22, 2019 at 02:02PM

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