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Capitalism, socialism and the climate crisis

In: Liberal Solidarity

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Abstract

This chapter criticizes the prominent view that the only enduring solution to the problem of climate change is to replace capitalism by socialism. CO2 emissions among developed capitalist countries are compared, showing a large variation in performance between liberal social democracies, such as Denmark and Sweden, on the one hand, and other developed countries, including the US, on the other. Hence considerable improvement within capitalism is possible. Against this, Karl Marx and others proposed a ‘capitalist growth imperative’, linking profit-seeking with capitalist expansion. Flaws in this argument are revealed. It is also argued that socialism has its own growth imperative. Population growth is identified as an additional problem. But this has liberal remedies, including female empowerment, as argued by Amartya Sen. The idea that socialism can deal with climate change is a triumph of blind faith over theory and evidence. Our objective must be to decarbonize capitalism.

Suggested Citation

  • ., 2021. "Capitalism, socialism and the climate crisis," Chapters, in: Liberal Solidarity, chapter 10, pages 208-227, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20515_10
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    File URL: https://www.elgaronline.com/view/9781800882164.00014.xml
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    Cited by:

    1. Gerlagh, Reyer, 2022. "Climate, Technology, Family Size; on the Crossroad between Two Ultimate Externalities," Other publications TiSEM b6d5b02f-4624-46fd-836a-b, Tilburg University, School of Economics and Management.
    2. Gerlagh, Reyer, 2022. "Climate, Technology, Family Size; on the Crossroad between Two Ultimate Externalities," Discussion Paper 2022-027, Tilburg University, Center for Economic Research.
    3. Waffenschmidt, Brigitte, 2021. "Nachhaltigkeit: Modewort oder Erwartung der Generation Y an ihre Arbeitgeber," EconStor Research Reports 246810, ZBW - Leibniz Information Centre for Economics.
    4. Ghosh, Sumita, 2021. "Urban agriculture potential of home gardens in residential land uses: A case study of regional City of Dubbo, Australia," Land Use Policy, Elsevier, vol. 109(C).

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