Here’s Why Capitalism Can’t Fix Climate Change
by Stan Cox
Posted October 10, 2018
People running big corporations—indeed, those running businesses of all sizes—seek to maximize profits not because they are misguided, but because that’s their job in a capitalist economy.
The common goal of both the private and public sectors is rapid, sustained GDP growth, so the only climate actions that companies or governments are willing to take are those that will not risk slowing wealth accumulation. (When Elliott says capitalism must take risks, he doesn’t mean that kind of risk!) This is why no governments have yet taken the actions that will be necessary to steeply reduce carbon emissions. More…