Capitalism and the Climate: Why We Can’t Have Both

Do you feel a sense of impending doom when thinking about our planet’s future? Are you concerned about the ever-widening wealth gap between the 1% and the dwindling middle class? Does the current political climate seem unsustainable to you? If you answered yes to any of these questions, then maybe ecosocialism is for you!

Broadly defined, ecosocialism is a burgeoning ideology combining criticisms of capitalism from both social and environmental perspectives. Ecosocialists argue that pursuing individual financial gain at the expense of the working class and the planet landed us in our current climate crisis. That proposition requires ecosocialists to ask a fundamental question: how can we create a better future for all when we refuse to change the systems that created the present? 

Just as with human-induced climate change, capitalism is not the natural order of the world. Capitalism in its current, unregulated form wasn’t conceived until the late 18th-century, though slavery and exploitation of labor harken back several centuries. With roots in the imperialist traditions of the British and American Empires, capitalism celebrates personal gain instead of collective success and private property rather than traditional land rights. 

Capitalist principles directly oppose those of Indigenous peoples, who remain victims of Western economic growth to this day. A prominent tenet of many Indigenous nations, respecting the land helped these societies prosper for hundreds of years before the arrival of European colonists. Indigenous traditions offer an alternative, more sustainable relationship with the planet, but are currently incompatible with Western consumer culture. 

Turning a profit, though not inherently bad, is embedded in capitalism. However, a study from 2017 shows that the richest 1% possess more than half of the world’s wealth. This massive wealth gap is no accident–unchecked capitalism is largely responsible. Between 2010-2015, American fossil fuel executives alone pocketed over $6 billion, approximately 1000x times more than the average American. 

Corporations often claim that “going green” is bad for business. Is this true? Partially. While the operating costs of sustainable business are higher, the social and environmental costs, however, are worth the extra cash. Corporations don’t pollute for fun, but they do behave in a risk-averse manner. Though often the safest business decision, weighing immediate profit over long-term environmental consequences and human lives comes with a high price tag: our planet itself.   

For this beat, I will examine case studies of countries that incorporate eco-social policies. There is a precedent for modern ecosocialism. In fact, the United States is far behind most of the world at implementing ecosocial and collectivist policy to combat climate change. 

A number of countries, including India, Bhutan, France, Canada, Norway, and the United Kingdom, incorporate ecosocialist policies in their mainstream government. By examining the United States’s shortcomings and successful policy applications in other countries, I will highlight ways the U.S.  can move forward towards a more sustainable and equitable future. 

Leave a Reply

Your email address will not be published. Required fields are marked *