Capitalism, no matter what label is put on it such as “green” capitalism or “inclusive” capitalism, still has the self-destructive characteristics of capitalism embedded within it. The very recent PR campaign orchestrated by the financial elite of the world under the socially responsible-sounding title of “inclusive capitalism” is no exception:
Yesterday’s Conference on Inclusive Capitalism co-hosted by the City of London Corporation and EL Rothschild investment firm, brought together the people who control a third of the world’s liquid assets – the most powerful financial and business elites – to discuss the need for a more socially responsible form of capitalism that benefits everyone, not just a wealthy minority.
Leading financiers referred to statistics on rising global inequalities and the role of banks and corporations in marginalising the majority while accelerating systemic financial risk – vindicating the need for change.
While the self-reflective recognition by global capitalism’s leaders that business-as-usual cannot continue is welcome, sadly the event represented less a meaningful shift of direction than a barely transparent effort to rehabilitate a parasitical economic system on the brink of facing a global uprising.
Central to the proceedings was an undercurrent of elite fear that the increasing disenfranchisement of the vast majority of the planetary population under decades of capitalist business-as-usual could well be its own undoing….
Systemic Disorder has written a clear-minded essay explaining why nothing short of a complete paradigm shift away from capitalism’s inherent growth and profit-maximizing imperatives is needed to save mankind.
Green capitalism is destined to fail: You can’t keep doing the same thing and expect different results. We can’t shop our way out of global warming nor are there technological magic wands that will save us. There is no alternative to a dramatic change in the organization of the global economy and consumption patterns.
Such a change will not come without costs — but the costs of doing nothing, of allowing global warming to precede is far greater. Therefore it is healthy to approach with a dose of skepticism the Intergovernmental Panel on Climate Change (IPCC) report that concludes the annual reduction in “consumption growth” on a global basis would be only 0.06 percent during the course of the 21st century. Almost nothing!
The “Summary for Policymakers” supplement of the IPCC’s Climate Change 2014: Mitigation of Climate Change report, a dense 33-page document…
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