capitalism won't solve it

Capital throughout its history has long sought to evade certain costs, to treat them as "externalities" as the economists like to say. Environmental costs and the costs of social reproduction (everything from who takes care of grandmother and the disabled to child rearing) are the two most important categories that capital prefers to ignore. Two hundred years of political struggle in the advanced capitalist world forced corporations to internalise some of these costs either through regulation and taxation or through the organisation of private and public welfare systems...

Since the 1970s, there has been a concerted effort on the part of businesses to divest themselves of the financial and political burdens of dealing with these costs. This was what Reaganism was all about. Simultaneously, the high mobility of capital (encouraged by the deregulation of finance and capital flows) permitted capital to move to parts of the world (Asia in particular) where such costs had never been internalised and where the regulatory environment was minimalist.

Meanwhile, the preferred means for seeking solutions to the key problems of environmental degradation and global poverty – the liberalised markets, free trade and rapid growth and capital accumulation favoured by the IMF, the World Bank and leading politicians in the most powerful countries – are precisely those which produce such problems in the first place. The problem of global poverty cannot be attacked without attacking the global accumulation of wealth. Environmental issues cannot be solved by a turn to green capitalism without confronting the corporate interests and the lifestyles that perpetuate the status quo.