Degrowth, green capitalism and the promise of ecosocialism
From the article: . . . What to do? Mainstream economists have had two approaches. Economists such as Herman Daly, Tim Jackson, and Serge Latouche have advocated “degrowth.” The idea is that capitalism can be slowed down, made to run at a “steady state” or even to “degrow.” I have argued elsewhere that these theorists just don’t understand capitalism. Capitalist “degrowth” just means recession, if not depression. Imagine Rex Tillerson, CEO of Exxon Mobil, telling his investors, “Sorry, but to save the planet, we cannot grow profits next year, and in fact, we have to cut production (and thus profits) by 8–10 percent next year and every year thereafter, for the next three-and-a-half decades, by which time we will be basically out of business.” How long would it take your retirement fund to dump that stock?
The other approach is “green capitalism.” . . .
My argument can be summed up in three points:
1. Rational, sustainable economic planning is the only way to save the humans. “We’re one people on one planet.” Either we start acting like it or we’re doomed.
2. Rational, sustainable planning will only work if it’s done democratically, if all those who are affected have an equal say in decisions that affect them. That, after all, is the essence of democracy.
3. True democracy is impossible without generalized equality.
. . .
New Politics; Vol:XVI-1; Whole #: 61