The Green New Deal and a wealth tax facilitate degrowth – solves their impacts

These results have important implications. First, they suggest that a purely market-based green growth strategy is likely to have serious negative side effects. These side effects may be corrected by complementing environmental policies with strong social policies, such as working-time reduction, a guaranteed jobs programme, and a wealth tax. Second, the results suggest that degrowth can dramatically reduce environmental impact and lead to improved social outcomes (for example, more leisure time, higher employment and greater equality), provided the appropriate policies are in place. Third, a Green New Deal, with an explicit focus on achieving a just transition, may represent a compromise that advocates of both green growth and degrowth can support.