We need capitalism to save the planet | Rebecca Henderson on the reasons why #capitalism

Rebecca Henderson argues that the reason why capitalism and climate change are so interlinked is that we need the former to save us from the latter.

Could reformed capitalism be our only hope?

With the world's largest corporations responsible for 71% of global greenhouse gas emissions, many, particularly on the left, have taken it for granted that climate change and capitalism are intimately linked. But with corporations and the right backing action to reduce emissions, the assumption is under challenge. Former governor of the Bank of England Mark Carney went so far as to say that 'the goal of net zero is the greatest commercial opportunity of our time.' And according to the World Economic Forum, the value of green bonds traded could soon hit $2.36 trillion. So proponents of capitalism argue the very economic system that instigated climate change is also the way to end it.

Should we conclude that there is no necessary connection between capitalism and climate change? Will this realisation result in a shift on the left away from green politics and climate change and back to heartland socialist goals? Or is the link between climate change and capitalism essential and the claims of bankers and conservatives to be in favour of reducing emissions insincere and illusory?

This event was produced in association with Audio Note.

#capitalism #climatechange #socialism

Join Harvard MBA's socialist Rebecca Henderson, economic historian Troy Vettese, and pioneering physicist of the natural world Helen Czerski as they debate the connection between capitalism and the climate. Hosted by Linda Yueh, Oxford professor of economics.

00:00 Introduction
00:17 Climate change will not be solved without capitalism
01:50 Reimagining capitalism
02:50 Net Zero is a great business opportunity

[TheInstituteOfArtAndIdeas]

Do you agree with Rebecca? Might capitalism be just what we need in this moment, despite having led us here? Let us know in the comments!

[shakacien]

Notably different claims that we 'need' capitalism, or the world won't be saved 'without' capitalism.
It's almost like if Capitalism doesn't get its share of the profit of saving the world privatized it won't let it be done.
Capitalism isn't going to initiate a carbon tax on itself, and if it did that'd be more social democracy with capital here or there than anything.

In short: Booo to the title of this and to listening that attentively to Rebecca Henderson's fawning view of the status quo.

[GruntKF]

Sadly I think this is just hot air - expecting regulation when consolidated capital has the ability to shape policy is a pipe dream. It must be smashed entirely. We can still use markets and innovation without private consolidation of capital/resources.

[ellowm]

We need to get out of capitalism to save the planet

[ralphhebgen]

It strikes me as a bit odd that we are still talking about this. Germany is one example of how to blend socialism and capitalism, and the country has been a singular success story up until the 90s. Since then, Germany can serve as an object lesson on how too much eco-driven socialism leads to slow de-industrialisation. The USA have always been an object lesson into how too much unbridled capitalism leads to widespread social issues. So yes, Rebecca - I agree. A system such as Germany’s from 1950-1990 is one way to strike a productive balance. Let’s not pretend this is a new insight.

[Zakkarath]

CAPITALISM = HOW CAN I MAKE A BUCK AT THE EXPENSE OF THE MAJORITY OF THE PEOPLE

[ceejaywilson]

Rebecca Henderson - feed and maintain the monster in order to defeat it.

Ah, no.

[kurtsaidwhat]

“Impossible to solve climate change without capitalism”

China, the world leader in green energy: “huh?”

[james-cal]

ah yes fixing the problem with the problem

[Sherifaga]

All of the isms are gonna be looked at from a different perspective. The money consept has to go away from our stuck minds

[charlesackman]

She is absolutely wonderful. The new working class will be AI driven robots who do everything that humans do. I can finally sit around all day long and drink beer. What a wonderful world!

[BobQuigley]

Down with capitalism if we ever get it. Actual capitalism would include cradle to grave costs in the products produced

[homewall]

We need innovation and FORCED UNITY? LOL

[samray]

hEaR mE OuT "Compassionate Capitalism"

[teemum.]

Capitalism is not free market. You Americans misuse the word. Capitalism means accumulation of capital

[ShonMardani]

It was an advertising for a book written by a professor who admits everything she learned and taught were wrong, inhuman and criminal in nature. She could have helped many if she did not go to bed with other professors and experts in the field.

[ownyourgov]

Capitalism is based on agreements about interactions of self interested human beings.

[yttean]

Capitalism Now can save the world in 10 years' time; it's too late then. On the other hand, A New Capitalism (*) will take at least another 10 years to come into fruition, so take your pick. Which way you lose.
* A Liberal Democracy's Capitalism takes a very long time to reform into a new capitalism. Currently there is No movements or even mood to reform.

[hanonomiri]

This woman, probably think "desert Storm" is still going on in Middle East. 😜

[zarg]

Of course we need to capitalise on the apocalypse. Its zero sum risk