We are rapidly approaching collapse of the present economic system, which cannot cope with the challenges of human induced climate change. An interesting article in Spiegel International deals with this problem: Harald Welzer, “Climate Summit Trap: Capitalism’s March toward Global Collapse”:
” Capitalism Triumphant
………. The primacy of economics has prevailed. It no longer seems to matter how we………. get through…….this century if the world grows warmer by three, four or five degrees Celsius. National economies require an ever-growing dose of energy if their business models are to continue functioning, and, in the face of this logic, all scientific objections to the contrary are just as powerless as the climate protest movements, ……..
…………. in ….. human history many cultures failed because they did not adapt …….. to new conditions. The Vikings left Greenland in part because they clung to animal husbandry despite practically having to carry their cows out to pasture in the spring, because the lack of winter feed had left the animals too weak to walk. The Vikings would have just needed to come up with the idea of eating fish instead, but to them that seemed as inconceivable as renouncing the idea of growth does to nations today. The Vikings believed they could not live without cows, just as we believe that a high quality of life rests on expansion.”
Two approaches to escape from this trap have recently been developed:
1. ” ‘Economy for the Common Good’
This means we need a method of searching for new strategies that can’t be coopted by the sleek, but unfortunately destructive, principle of capitalism. Imagine, for example, what might happen if a large number of businesses make the improvement of the common good — instead of an increase in their profits — the goal of their commercial efforts.
There are ….. already more than 1,400 companies,…….. in German-speaking countries that have made a commitment to the concept of the “economy for the common good,” an idea developed a few years ago by Christian Felber, the Austrian co-founder of Attac. Around one third of these companies have annual balance statements to show it.
In the medium term, the “economy for the common good” movement aims to make such accounting legally binding. The principle is that the more common-good “points” a business achieves, the more legal benefits it should enjoy.”
2. “The Argument for Divestment
Another, even more effective, instrument for creating this sort of change is the “Fossil Free” divestment campaign launched last year by American environmental activist Bill McKibben……… based on the simple idea that entire industries’ commercial foundation can be destroyed if funds are withdrawn from them. Private financial investment alone already amounts to a considerable sum. But serious clout could be achieved if the endowments of American colleges and universities, the assets of church organizations and city budgets, were no longer invested in companies that destroy the foundations of future human survival.
Such initiatives are now active at nearly 400 American schools, colleges and universities. Four colleges and 10 cities, including Seattle and San Francisco, have made the decision to divest. The campaign has also spread to Europe, where University College London just joined the movement.”