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I fail to see how capitalism and free markets, which optimize for profit above all else can have any incentive in reigning in climate change. There is zero mon
by d--b 5y ago
I fail to see how capitalism and free markets, which optimize for profit above all else can have any incentive in reigning in climate change.
There is zero money in preventing deforestation. There is zero money in carbon capture. There is zero money in keeping ocean’s level low.
But there is money in building levees and relocating sea-side communities.
So technically capitalism will favor burning fossil fuels over not doing it. And later when problems like these start to arise, capitalists will create companies to cope with the broken climate and make money off it.
- deltree7 5y agoIf you apply property rights, the bedrock principle of capitalism. You'll solve all of these externalities.