A columnist for the Wall Street Journal wrote, “The premise behind the Green New Deal is right.” But he also wrote that “the Green New Deal seems engineered to be as expensive as possible” and argued that climate change policy should focus on “market mechanisms that incentivize carbon reduction at the lowest price.”

a. What is the premise behind the Green New Deal?

b. Why might implementing the Green New Deal be expensive?

c. What did the columnist mean by “market mechanisms that incentivize carbon reduction”? How would a market based approach differ from the approach of the sponsors of the Green New Deal?