Capitalism cannot defeat climate change

Well, in this piece of commentary, the author says, “don’t hold your CO2.”  Capitalism is both the cause *pursuit of profits through economic growth powered by fossil fuels) and the beneficiary of climate change (through externalized costs.)

Capitalism exists to increase profits – to grow financially.  In a capitalist regime, there is no incentive to undertake anything that will risk slowing wealth accumulation, which is of course what will need to happen to effectively mitigate climate change.  If we are to stop and reverse climate change, the “first law of holes” applies.

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