Capitalism - a Failed System

"Capitalism, in many respects, has become a failed system in terms of the ecology, economy, and world stability. It can hardly be said to deliver the goods in any substantive sense, and yet in its process of unrestrained acquisition it is undermining the long-term prospects of humanity and the earth." - "Capitalism in Wonderland", Monthly Review, April 2009.

""The world is suffering from a fever due to climate change, and the disease is the capitalist development model.”

— Evo Morales, president of Bolivia, September 2007

Humanity’s Choice

by Ian Angus

"Humanity today faces a stark choice: ecosocialism or barbarism.

We need no more proof of the barbarity of capitalism, the parasitical system that exploits humanity and nature alike. Its sole motor is the imperative toward profit and thus the need for constant growth. It wastefully creates unnecessary products, squandering the environment’s limited resources and returning to it only toxins and pollutants. Under capitalism, the only measure of success is how much more is sold every day, every week, every year – involving the creation of vast quantities of products that are directly harmful to both humans and nature, commodities that cannot be produced without spreading disease, destroying the forests that produce the oxygen we breathe, demolishing ecosystems, and treating our water, air and soil like sewers for the disposal of industrial waste.

Capitalism’s need for growth exists on every level, from the individual enterprise to the system as a whole. The insatiable hunger of corporations is facilitated by imperialist expansion in search of ever greater access to natural resources, cheap labor and new markets. Capitalism has always been ecologically destructive, but in our lifetimes these assaults on the earth have accelerated. Quantitative change is giving way to qualitative transformation, bringing the world to a tipping point, to the edge of disaster. A growing body of scientific research has identified many ways in which small temperature increases could trigger irreversible, runaway effects – such as rapid melting of the Greenland ice sheet or the release of methane buried in permafrost and beneath the ocean – that would make catastrophic climate change inevitable.

Left unchecked, global warming will have devastating effects on human, animal and plant life. Crop yields will drop drastically, leading to famine on a broad scale. Hundreds of millions of people will be displaced by droughts in some areas and by rising ocean levels in others. Chaotic, unpredictable weather will become the norm. Air, water and soil will be poisoned. Epidemics of malaria, cholera and even deadlier diseases will hit the poorest and most vulnerable members of every society.

The impact of the ecological crisis is felt most severely by those whose lives have already been ravaged by imperialism in Asia, Africa, and Latin America, and indigenous peoples everywhere are especially vulnerable. Environmental destruction and climate change constitute an act of aggression by the rich against the poor.

Ecological devastation, resulting from the insatiable need to increase profits, is not an accidental feature of capitalism: it is built into the system’s DNA and cannot be reformed away. Profit-oriented production only considers a short-term horizon in its investment decisions, and cannot take into account the long-term health and stability of the environment. Infinite economic expansion is incompatible with finite and fragile ecosystems, but the capitalist economic system cannot tolerate limits on growth; its constant need to expand will subvert any limits that might be imposed in the name of “sustainable development.” Thus the inherently unstable capitalist system cannot regulate its own activity, much less overcome the crises caused by its chaotic and parasitical growth, because to do so would require setting limits upon accumulation – an unacceptable option for a system predicated upon the rule: Grow or Die!"