The climate crisis is our third world war. It needs a bold response | Joseph Stiglitz

Critics of the Green New Deal ask if we can afford it. But we can’t afford not to: our civilisation is at stake

Advocates of the Green New Deal say there is great urgency in dealing with the climate crisis and highlight the scale and scope of what is required to combat it. They are right. They use the term “New Deal” to evoke the massive response by Franklin Delano Roosevelt and the United States government to the Great Depression. An even better analogy would be the country’s mobilization to fight World War II.

Critics ask, “Can we afford it?” and complain that Green New Deal proponents confound the fight to preserve the planet, to which all right-minded individuals should agree, with a more controversial agenda for societal transformation. On both accounts the critics are wrong.

The war on the climate emergency, if correctly waged, would actually be good for the economy

Joseph E Stiglitz is a university professor at Columbia, the 2001 recipient of the Nobel Memorial Prize in Economics, a former chairman of the Council of Economic Advisers, a former chief economist of the World Bank and the author, most recently, of People, Power, and Profits: Progressive Capitalism for an Age of Discontent

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