A discussion of the capitalist economic system would not be complete without an examination of the issue of externalities incurred within it. An externality is a cost or benefit that is thrust upon a group that did not choose or cause it. Externalities are a natural byproduct of a capitalist, free market system and are a major factor when considering the causes of global climate change. These externalities would include such things as industrial manufacturing causing extreme air pollution, which effects human and non-human life, water pollution caused by the runoff of chemicals in industrial farming practices, massive over-fishing that depletes the fish stock for small communities and individual families, a high unemployment rate and extreme income disparities, and so on.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Saturday, June 28, 2014
Capitalism & Climate Change – Part II [of ?]: The Externality Problem
Click here to access article by Alyssa Rohricht from her blog Black Cat Revolution. (Part 1 is here)