The simple fact is that the Green New Deal and profit maximisation are incompatible with each other, and this is of massive importance and is an issue that cannot be ducked if the Green New Deal is to work.
Profit is the value added in an organisation. This statement is tantamount to insisting that we don’t want to add value in our economic activities. Which is rather the point of having economic activities in the first place really, to add value.
Quite explicitly, externalities such as environmental cost are ignored in this framework, which accepts the standard neoclassical line that natural capital is a ‘free gift of nature’. This is inappropriate in a world where we face the reality of climate crisis. The capital constraint that businesses now face does not come from finance – which is readily available to most of them at almost no real cost in the case of larger companies – but from natural capital, whose use we have to limit.
This all having been dealt with by Arthur Cecil Pigou in the 1910 to 1925 period. Which is why the Stern Review, William Nordhaus and all the rest advocate the carbon tax as they do. Include externalities in the price system and Robert’s your parent’s sibling of choice.
We already considered this, dealt with it, a century ago. But then those who know no economics are going to be constantly trying to puzzle through questions already answered, aren’t they?
Perhaps more reading and less staring out the window is required?