business

Corporate polluters lag on setting climate goals

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By Patturaja Murugaboopathy and Simon Jessop

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© Thomson Reuters 2021.

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Expecting companies that are solely driven by their profits (else they would have already done something) to change and become ecologically responsible without any incentives (specially negative) is not going to lead anywhere.

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Expecting companies that are solely driven by their profits (else they would have already done something) to change and become ecologically responsible without any incentives (specially negative) is not going to lead anywhere.

Quite right. Capitalism is bad.

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Capitalism is bad.

Extremism is bad.

Capitalism has pros and cons like any system. The pros of Capitalism are that it provides economic motivation for people to innovate and create. This drives the invention of new technologies and ideas. The cons of capitalism are that when left unregulated, eventually the people at the top end up with control over the overwhelming majority of the available resources, allowing them to win at every game they play. This comes at the cost of everyone else in the system, creating a hierarchy in which the people at the bottom end up as servants indentured to the system without little possibility of ever jumping classes to the god-like status of the ultra-rich.

Socialism also has pros and cons, again like any system. The pros of Socialism are a social safety net that takes care of the populace, and educates those who wish to be educated. The cons are less drive and innovation due to the complacency that comes from comfort, where many people choose to not contribute any effort to the generation of things essential to society; food, shelter, goods, services and utilities.

As with most everything, a nuanced approach is best. Take the best parts of each system and find a balance. Capitalism is great - when tempered. It's unregulated capitalism that is bad. Socialism is great, when combined with an economic drive to provide motivation to innovate and create.

It's not as simple as "Capitalism is bad".

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