Is capitalism making climate change better or worse?

What is it about?

It is common for scientists to say that “the global economy” is bad for our climate. But this is a very general term; different countries have different types of economy. Even when countries have the same type of economy – such as capitalism, which is based on companies making a profit – it can work differently in different countries. From a climate perspective, any particular economic model may be both good and bad. While capitalism may be based on industrial growth (which can cause pollution), it can also lead to more innovation. Companies are motivated to solve a new problem in order to make more money – so capitalism could be the best way to encourage advances in removing greenhouse gases from the atmosphere.

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Photo by Samuel Ferrara on Unsplash

Photo by Samuel Ferrara on Unsplash

Why is it important?

Sometimes researchers find it useful to work with people who are specialists in a different subject. This can help them to look at problems in a different way. This article is written by two researchers, who are from the same university, but specialize in different things: one studies the environment, and the other studies human relationships. Together, they make the point that we need to be clear about the problem we are tackling. KEY TAKEAWAY: Talking generally about “the economy” is too vague. It means we may not be clear on the problems that need solving, or we may be missing ideas for how to solve them.