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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].

7 of 622 comments (clear)

  1. But.. they're *Scientists!* by mkoenecke · · Score: 5, Insightful

    This time socialism will totally work for the whole world, because the *right* people will be in charge and won't be greedy, or self-interested, or power hungry like those awful capitalists. Because they're *scientists.*

    --
    TANSTAAFL
    1. Re:But.. they're *Scientists!* by Anonymous Coward · · Score: 5, Insightful

      As usual, the Star Trek replicator "post-scarcity" world believers ignore how to get there the most quickly, which is the freedom to innovate with free market economics, aided by university research.

      Marx himself believed that capitalism was necessary before socialism, and that successful socialism could not happen without completing a capitalist phase.

  2. First, let me say: What a crock of B.S.!! by King_TJ · · Score: 5, Insightful

    Are you telling me that struggles with climate change, scarcity of natural resources and so on will just vanish into thin air by embracing Socialism or perhaps a Fascist dictatorship, or Communist rule? These issues somehow ONLY cause problems for people living in Capitalist systems?

    I've got some news for the Capitalist haters out there .... The majority of innovations in technology that will help the whole planet transition to cleaner forms of energy, and possibly even mitigate some of the climate change issues are being developed in Capitalist America.

    If the American Capitalist system fails, it won't be for any of these reasons. It'll simply be due to our leaders constantly increasing the levels of our national debt, in efforts to extend and expand the role of central government into all sorts of areas it was never originally intended to get that involved with. The nation only generates so much wealth each year, and it's a recipe for disaster to keep spending more than what's sustainable.

    1. Re:First, let me say: What a crock of B.S.!! by Rick+Schumann · · Score: 5, Insightful
      From TFA:

      In short, according to Grantham, “we face a form of capitalism that has hardened its focus to short-term profit maximization with little or no apparent interest in social good.”

      ..which is 100% correct. "Profits above all else". The Rich get richer, The Poor get poorer, the Middle Class disappears, replaced with an ever-widening gulf between The Rich and The Poor (which then includes what used to be the Middle Class), and essentially no way to bridge the gap. We're already seeing this happen. There's other dangerous signs: barriers to ownership of things like homes or vehicles, with ownership replaced by perpetual renting. Home Owners Associations with the power to literally steal someone's self-owned home out from under them. Even things as seemingly innocuous as 'streaming' media services, 'cloud' services, and even e-books, which discourage owning of what used to be common things, and encouraging a perpetual cycle of monthly payments. Payday lending practices that amount to loan sharking. Predatory lending practices by major banks. Even something like the privatization of the prison system, which seems like it's entirely out of left field, plays a part in this. Left on the course it's set for itself, we may end up in a feudalism-like civilization. Maybe you personally don't think you're feeling any of this yet, but you will.

  3. Capitalism is the worst economic system... by Anubis+IV · · Score: 5, Insightful

    ...except for all the rest. Or, at least, that's how the saying goes.

    Given that capitalism is fundamentally based on an assumption of greed, which seems to be a fairly consistent trait among humans, it has functioned remarkably well up to this point. But given enough time and not enough regulation, it's inevitable that the greed of some will outpace that of others, resulting in the system approaching a state where wealth has accumulated in the hands of a few, as well as that those who (or that which) are less capable of defending themselves will inevitably be exploited by those who are more capable. For us, that means the exploitation of the middle-class, the lower-class, and the things we share with the wealthy, such as our shared natural resources. Unsurprisingly, this sort of exploitation is exactly what we're seeing happen on a more and more frequent basis.

    I think parts of the US are slowly waking up to that fact, but a cultural awakening of this sort usually takes decades or generations to complete. We're just starting to recognize the problem. It'll be decades more before we're willing to fix it. And, at least in the case of the US, the necessary changes will almost certainly require changes to the Constitution, but we won't be able to make those changes until the people are demanding those changes en masse, and we're nowhere close to that point yet.

  4. Re:"Scientists" by Anonymous Coward · · Score: 5, Interesting

    Well, let's take a look...

    Paavo Järvensivu - Economic cultural researcher
    Tero Toivanen - Political Scientist
    Tere Vadén - Philosopher
    Ville Lähde - Philosopher and Journalist
    Antti Majava - Artist
    Jussi T. Eronen - Scientist

    So... I guess to answer your specific question, yes, at least some of them are likely applying the scientific method to their research. But I would definitely call this a multi-disciplinary group rather than a group of scientists.

  5. Good. by OwP_Fabricated · · Score: 5, Insightful

    Now we just need to start educating people on what a social democracy actually is, since we've let thinktank dipshits say everything but rampant laissez faire capitalism means the government just take's everyone's stuff.

    You're already living in a relatively fascist society thanks to the right and centrist liberals. You're spied on, can be disappeared with no trial for any reason someone can just make up, the cops can just shoot you dead for any reason they feel like any get away with it about 90% of the time, capital is working on basically owning the IDEA of ideas, and if you're not the top 0.0001% every system is made to deny you any sort of help and funnel your money to said 0.0001%.

    I think maybe kicking these people out for people who maybe, possibly think you deserve an ounce of dignity if you're not ultra-rich isn't really that crazy. Yeah- they're all wholly corruptible as any of us but that's not really an excuse for inaction.