Is Capitalism compatible with sustainability?
Posted: Fri 01 Apr 2016, 09:16:12
I have been thinking of this off and on for awhile. So I decided to start a new thread to gauge the opinion of others. I think most regular posters here by now know that I am against Capitalism or at least hyper Capitalism. Having said that I do recognize that in a purely economic context, Capitalism is very efficient at providing necessities and wants in a manner for the most part beneficial to all transacting parties. The problem is what economists refer to as "externalities". The most common example being harm to the environment. The other inherent problem with Capitalism as I see it is that in encourages, excess greed, exploitation and selfish consumerism. Thus it magnifies the thesis of the "Tragedy of the Commons". I am pretty sure some here may argue that this greed and selfishness are inherent traits in humans. I actually would concur. Thus societies in adopting Capitalism have only further exacerbated our natural inclinations and vices. So, in point of fact even as economic sustenance has always been a necessary preoccupation of humans, the cure in the form of Capitalism is worse than the disease of humans needing or wanting something derived from Nature. While Capitalism provides for these individual wants and needs it does so without regard to these externalities. These externalities are in fact the Earth. So this question parallels the Tragedy of the Commons question regarding how to provide for our need and wants while maintaining a certain balance and equilibrium with the source of these provisions namely Earth? I can only say that Capitalism in the forms practiced on this planet is NOT the way.