The Pros And Cons Of Natural Capitalism

The past couple of years have seen much damage on the natural environment by human activities. It is against this backdrop that environmental issues have taken center-stage in the contemporary society in the social, political, and economic spheres. The new economic order has a sole purpose to ensure efficient use of natural resources. This paper concludes that capitalism indeed can go green.

Magdoff and Foster (96) state that economists in the modern world appreciate the ecological value of natural resources through an economic perspective. Magdoff and Foster quote economic theorists such as Hawken and Lovinses who asserted that capitalism is not complete unless it encompasses aspects of natural capitalism. It is argued that careful management

For instance, the contemporary society experiences an increase in trade-offs of carbon emissions. The trade-offs practice has been adopted by capitalist countries who are of the ideology that market forces are the solution to external costs as a function of environmental degradation (IPCC 144). Proponents of Natural Capitalism argue that the money that has to be paid to destroy the environment should not come from Capitalist firms that cause such activities (Magdoff& Foster 97). Moreover, green capitalists appreciate the environmental resistance to degrading factors and are thus critical of status quo. According to Magdoff& Foster (96), Capitalism internalizes virtually every aspect of nature by appreciating natural laws and reducing every natural factor into a market commodity with a set price. The authors assert that currently, people are conscious about their health just as they are concerned about their wealth status. Most people including economists are concerned about social justice just like they are concerned about their economic well-being. The invention of low-technology services to emphasize sustainability is another argument for Capitalism going green. For example, admirable innovators like Wendell Berry and Wes Jackson assert their driving force is the accumulation of money whistle maintaining the

The advocates of green Capitalism are of the idea of redesigning businesses and their purposes to incorporate environmental awareness among the wealthy nations. Environmentalists also state that employing of tax policies, trade policies, and direct investment into green ends promotes sustainable economies, therefore, enabling Capitalism to go