Capitalism is on of many different systems of government that has been created on this planet. It also happens to be one of the most wasteful. It is an economic system that was created in a different time when resources were in abundance and people were not. In todays world it is the exact opposite. Although Capitalism is wasting our natural resources, it is still one of the top economies and because of that we need to come up with a better system of government that is not as wasteful.
Although Capitalism is an outdated system of economics, it still can function in todays society. It allows for private companies to become huge multi national conglomerates without the government stepping in and controlling production of their goods. This allows for a free market in which anyone can play a part. There are no rules for how an item is to be made. The company has the right to waste as much of a resource as they want.
Environmentalists might protest the company, but the company can still do whatever it likes. Modern capitalism is essentially mass production for the needs of the masses, as stated by the famous economist Ludwig Von Mises. This means that the people that buy the products of capitalism are the same people that cooperate in the production of those products. Despite the economic burden capitalism has on our planet it is still one of the most widely used, even though it is bad for the environment.
Capitalism is a hazard to our planet for multiple reasons but mostly because of the pollution and waste that it creates. According to Hawkin, a notable environmentalist, for every 100 pounds of product we manufacture in the United States, we create at least 3,200 pounds of waste. The human race cannot continue to thrive if we continue to waste all those natural resources. As explained by Herman E. Daily, a known economist, we are now facing a historic juncture in which the limits to increased prosperity are not the lack of man-made capital but the lack of natural capital. If the countries in the world continue to waste natural resources at the same rate that we are now we will use up all the natural resources that are on this planet, and if that happens it will be a very sad day for humanity. When that happens, the end of civilization, as we know it will cease to exist.
Just doing the morally correct thing can solve many problems associated with capitalism. The waste of natural resources can be prevented by creating new techniques for manufacturing goods so that not as much of a resource is needed to create the same item. The company can also try to find a substitute material so that they dont need to use all of resource, but split the product half and half. The United States and other countries must band together to make changes in our system of economics. The governments must step in and enforce laws against the wasting of natural resources in such a flagrant manner. The future is not too late to change, and with the proper steps it is easily avoidable. In fact some steps have already been taken, but many more are still necessary to make sure that the human race lives on long after our generation is gone. Bibliography:
Cite this Capitalism and its Hazard for Our Planet
Capitalism and its Hazard for Our Planet. (2019, Mar 30). Retrieved from https://graduateway.com/capitalism-and-its-hazard-for-our-planet/