The Green New Deal and The Future of Carbon Pricing

In this article, we discuss the future of U.S. climate policy within the context of the Green New Deal (GND). The GND has many features and this article is not meant to provide a comprehensive evaluation of all components of it. Rather, we focus on carbon pricing and whether it, rather than mandates and standards, should feature more centrally in the future of U.S. climate policy. We orient our discussion around issues related to theoretical aspects of different climate policy instruments and empirical evidence on their performance. We consider the efficiency and effectiveness of different approaches, their distributional aspects and how these relate to the increasingly important environmental justice priorities, and their political feasibility