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Capitalism and Climate Change
By Alyssa Rohricht - 2014
Capitalism dominates the globe. It has become so enmeshed into the cultural narrative that it seems almost axiomatic. Private owners (of capital) control the means of production. The goal: build profits. The best part about it is that if everyone pursues self-interest, the market will grow and society will benefit. The invisible hand helps the market to self-regulate, creating socially desirable results.
Simple?
No. When it comes to dealing with issues such as poverty, the income gap, unemployment, economic crises, human rights, war, imperialism, and the externalization of costs on society and the environment, the invisible hand that Adam Smith once imagined is not invisible, it is nonexistent.
We are currently experiencing, without a doubt, the greatest crisis to face human kind. Indications of climate change are being seen around the globe: accelerated melting of the Arctic sea ice, rapidly receding glaciers, rising sea levels, warming oceans and ocean acidification, more frequent and longer-lasting droughts, stronger and more frequent storms, higher temperatures than ever recorded, and a rapid extinction of species are direct result of a warming climate.
There is a scientific consensus that the climate is rapidly changing and that these rapid changes are due to anthropogenic causes. The science is clear: the human-caused emissions of great amounts of greenhouse gases – primarily carbon dioxide, methane, and nitrous oxide – are causing global environmental damage.
Many argue that market and techo-based approaches are the way to combat climate change. They push for carbon taxing and trading, geo-engineering, and renewable energy without considering the fact that the system itself is incompatible with sustainability. By its very nature, capitalism seeks only to grow and accumulate – an idea that is diametrically opposed to a sustainable existence.
In this series, I will examine how the capitalist system has brought us to climate disaster, and why it cannot get us out of it.
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