The protracted global economic slowdown and the deep ecological crisis that the world finds itself in both call for a Global Green New Deal, similar to the New Deal of the United States that tackled the Great Depression. The 21st century New Deal must include developing countries and has to be economically, socially and ecologically sustainable.
Almost eight decades ago, in the midst of the Great Depression, the newly elected United States (US) Government of Franklin Delano Roosevelt introduced the New Deal. The New Deal consisted of a number of mutually supporting initiatives of which the most prominent were:
• A public works programme financed by deficit financing.
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