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The Invisible Hand Won’t Solve the Climate Crisis. Capitalism Must Evolve. (Link)

When both the Occupy Movement and the Tea Party hit the nail on the head, pay attention.

“There are two extremes in the debate over capitalism’s role in our present climate change problem. On the one hand, some people see climate change as the outcome of a consumerist market system run rampant. In the end, the result will be a call to replace capitalism with a new system that will correct our present ills with regulations to curb market excesses.
On the other hand, some people have faith in a free market to yield the needed solutions to our social problems. In the more extreme case, some see climate policy as a covert way for bigger government to interfere in the market and diminish citizens’ personal freedom. […]

Capitalism is a set of institutions for structuring our commerce and interaction. It is not, as some think, some sort of natural state that exists free from government intrusion. It is designed by human beings in the service of human beings and it can evolve to the needs of human beings. […]

The form of capitalism we have today has evolved over centuries to reflect growing needs, but also has been warped by private interests. Yuval Levin points out that some key moral features of Adam Smith’s political economy have been corrupted in more recent times, most notably by “a growing collusion between government and large corporations.” This issue has become most vivid after the financial crisis and the failed policies that both preceded and succeeded that watershed event. […]”

— Andrew J. Hoffman, Evonomics

The Invisible Hand Won’t Solve the Climate Crisis. Capitalism Must Evolve. (Link) was originally published on Aware & Fair

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About The Author

JoAnn Chateau

JoAnn Chateau likes progressive politics and loves the canines. She writes fiction about an alpha Bichon named Chester, and his friends--with a dash of humor and a dab of poli-sci. JoAnn worked professionally in the Psychology and Information Science fields. Retired now, she enjoys the creative life.

4 Comments

  1. michelinewalker

    That is the obstacle. If you choose money, there’s no future.

    • JoAnn Chateau

      We certainly must subdue the corporate leeches.

  2. swo8

    Definitely, change is needed.
    Leslie

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