capel
This is modern capitalism, focused on the short term and leaving the future to sort itself out. Loot and move o
Yeah you warned me and this is not the spot for it directly but I want to point out this behaviour is has nothing to do with capitalism but is in fact predation unchecked by regulation.
It really does not matter if it's a gang of bullies extracting candy from kids or bankers screwing with the Libor rate - it's predation.
I'm a capitalist, available capital to run my business which employs people and provides services is critical and I'm happy to pay a reasonable amount for the use of that resource.
I'm not predatory.
There are thousands of non-predatory people and organizations with a capitalist economy.
What has broken is
a) any idea that it's self regulating - we saw the result of that in 2008
b) the banks and financial institutions are abusing the privileges granted them by fractional lending which is a charter granted by the state and needs reining in big time.
There are many ethical and green organizations providing capital ( for a return ) who are responsible corporate citizens.
There are WAAAAY too many predators unchecked who influence the governments by way of election funding and sometimes outright bribery.
This however is not restricted to private capital and corporations but applies to any predatory group exercising outsized or unfair advantage over a sector, other companies or individuals.
There are a few aggressive government prosecutors going after them as happened at the beginning of the 20th century when the likes of Exxon were busted up.
This weak regulation is both creating a have/have not society that is seriously dangerous but preventing exercise of sovereign power to regulate and protect the common weal.
So it has been falling to smaller jurisdictions to lead the fight as we see above with vehicle regulation and whole cities like Portland enacting stiff building codes.
Protection of the common weal has fallen out in favour of protection of the 1% and really a slide to fascism.
This does not bode well for dealing with climate as we see in both Australia and Canada and glaringly in the US where if it were not for Obama's executive power nothing would move forward.
Dealing with inequity, a failing democratice structure in some countries *( China's single party capitalism is mopping the floor with the west as they can make decisions, execute them AND do have the public weal in mind.
They curb predation with death sentences in some cases tho it's a tough battle given corruption at many levels.
Still they are building nukes, are setting stiff vehicle emission standards and intend to make good coin off green technology as they are doing with solar panels.
Predation is the problem facing the world in dealing with climate change and there are no easy answers.
Sweden is getting it done as is Norway and they DO know how to protect their citizens and help make them ALL wealthy. They've got a social system the envy of the world because they kept predators at bay.
http://www.policymic.com/articles/7...way-became-a-millionaire-last-week-here-s-how
here is a blistering comparison against Canada's mismangement.
http://thetyee.ca/News/2012/07/25/Norway-Oil-Wealth/
http://thetyee.ca/Opinion/2014/01/15/If-Every-Norwegians-a-Millionaire-Whys-Alberta-in-Hock/
Even where companies want a carbon tax which both Norway and Sweden have had in place since 1990, ideologues on the right get in the way.
Why Canada Oil-Sands Industry Wants CO2 Tax ... - Bloomberg
www.bloomberg.com/.../why-canada-oil-sands-industry-wants-co2-tax-h...
Feb 1, 2013 - The oil-sands industry, Canada's fastest growing CO2 polluter, says he's out of step. ... A carbon tax “is one of the ways to promote better performance of .... if possible--rather than at the well head or mine head or import point.
and
Why the oil sands industry wants the carbon tax that Stephen Harper hates
Jeremy van Loon and Andrew Mayeda, Bloomberg News | February 1, 2013 | Last Updated: Feb 1 12:30 PM ET
http://business.financialpost.com/2...s-industry-wants-the-carbon-tax-harper-hates/
In this case this predation by government on it's own people and the environment in concert.
One can hardly blame the oil companies for exploiting it.
That's the heart of the problem....regulation....not capitalism.
It took the courts to finally get SO2 abatement moving.
We need brave politicians with the common weal of citizens and the planet's environment as job one.....
We don't have them in enough places.... ;(