Scientists Warn the UN of Capitalism's Imminent Demise (vice.com)

Capitalism as we know it is over, an anonymous reader writes. So suggests a new report commissioned by a group of scientists appointed by the UN Secretary-General. From a report: The main reason? We're transitioning rapidly to a radically different global economy, due to our increasingly unsustainable exploitation of the planet's environmental resources. Climate change and species extinctions are accelerating even as societies are experiencing rising inequality, unemployment, slow economic growth, rising debt levels, and impotent governments. Contrary to the way policymakers usually think about these problems, the new report says that these are not really separate crises at all. Rather, these crises are part of the same fundamental transition to a new era characterized by inefficient fossil fuel production and the escalating costs of climate change. Conventional capitalist economic thinking can no longer explain, predict, or solve the workings of the global economy in this new age, the paper says [PDF].

Comments

Re:Scientists?

[tepples]

Can someone tell me which hypothesis they tested and what data set they used to draw these conclusions.

The paper presents the hypothesis that private sector activity alone or even a carbon emission tax will suffice to transform human society to sustain itself. Then it cites previously published articles to refute this hypothesis.

Re:But.. they're *Scientists!*

[Anonymous Coward]

I'd just like to point out that what we have in the US isn't capitalism. It's much closer to corporatism. In true capitalism, the government is present only to enforce contract law. In our current system, government is deeply entangled in virtually every aspect of business. Sorry, not capitalism.

Actually untrue for most tax payer

[aepervius]

From 0 to 18000 kronor you have 0 tax. Sure 18000 kronor is not much (2000 dollar yearly!) but then up to 460K kronor, that is 50K dollar yearly the tax rate is only about 30%. So far off your 76%. In fact only the top marginal tax have 76% and ONLY if you count the VAT (the top tax is 57% not 76% and if you count 25% from VAT then only then you come near 70% at most and that is assuming you think all tax goes to the same entity the state, which is untrue as about 20% of that is municipality). So I would qualify your claim as not only untrue, but if the people having less than 70K$ per year have any brain they will vote to continue the system.