Is Climate Change posing a Threat to Capitalism?

Forest fires from Amazonia to Siberia and Australia, fish migrating because of oxygen holes in the ocean, melting ice caps and increased risks of floods and droughts: These are just some of the massive changes on our planet we are witnessing as consequence of our greenhouse gas emissions.

As movements like Fridays For Future, inspired by 16 year-old climate activist Greta Thunberg, and Extinction Rebellion are staging protests around the world to raise awareness and push for change, public discontent with current political and economic systems are arising.

A new generation of mostly young and ecologically aware people are growing frustrated with an elite of politicans perceived as lethargic and corrupt as well as with profit-seeking business leaders. As pressure is building up, we are confronted with the increasing likelihood of a green revolution.

Will our current political and economic system slowly transition towards a more sustainable form? Or will it collapse, be overthrown and replaced with an entirely new system?

The risks of climate change have been known and scientifically supported for decades. Yet action has been slow. As the current US president proves, there is still plain denial even among the most powerful ranks of society. The fossil fuel industry, whose very existence is at stake, has until now successfully been lobbying against any action.

Capitalism is based on maximizing profits. It encourages companies and individuals to pursue their own benefit, even if that benefit is outweighted by the cost such egoism brings upon the system as a whole.

Capitalism has been praised for its stability, efficiency and the immense opportunities it brings to those who know how to benefit from its forces. But lately we have seen it mature into a rentier capitalism. There are increasingly powerful monopolies that take advantage of their size at the cost of society.

We are seeing an increasing inequality in wealth, income and chances. The richest…

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