The Trick to Make Capitalism Help Solve Climate Change

Welcome to the climate emergency. This is what it looks like: dying coral reefs and dialed-in ice sheet disintegration; drought, flood, and refugees. This is what it feels like: a deep uncertainty about the future expressed in economic and political instability. To escape the heat, land and ocean species everywhere are migrating toward the poles. Of the millions of species on our planet, only one foolishly continues to make the problem worse by burning fossil fuels—the one that named itself “wise man,” Homo sapiens.

Capitalism has a role to play in countering climate change,

But as the crisis deepens, the world—with the stunning exception of certain intransigent U.S. politicians—is finally getting the message. The question becomes what to do.

I’m a fan of deep voluntary personal reduction, which (I’ve found) leads to a more satisfying and connected life and enhances one’s ability to effect broader change. But it’s not a solution; we need to leave fossil fuels quickly and globally. Economists agree that the way to do this is to make the price of fossil fuels reflect their true cost to society.

The best step any nation can take is a revenue-neutral carbon fee.

Read the Yes Magazine story by Peter Kalmus - “The Trick to Make Capitalism Help Solve Climate Change.”