by The latest IPCC report paints a picture of five potential futures for humanity. In the worst one, if corporations keep calling the shots, we could see catastrophic warming of up to 5.7˚C....Humanity is living "beyond its means" with respect to real resource use and externality. The problem is that price is not based on true cost including negative externality, which vitiates the balancing power of market forces based on rationing by price. But true cost accounting would change things in a very disruptive way, so few are willing to bite the bullet and reform the system to bring its operation in line with reality.MR OnlineCapitalism vs. the PlanetHazel GrinbergOriginally published at Socialist AlternativeAlso at MRWe are scientists, calling for a climate revolutionEditorial originally
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The latest IPCC report paints a picture of five potential futures for humanity. In the worst one, if corporations keep calling the shots, we could see catastrophic warming of up to 5.7˚C....
Humanity is living "beyond its means" with respect to real resource use and externality. The problem is that price is not based on true cost including negative externality, which vitiates the balancing power of market forces based on rationing by price. But true cost accounting would change things in a very disruptive way, so few are willing to bite the bullet and reform the system to bring its operation in line with reality.
MR OnlineCapitalism vs. the Planet
Hazel Grinberg
Originally published at Socialist Alternative
Also at MR
We are scientists, calling for a climate revolution