
Scientists Warn the UN of Capitalism's Imminent Demise - westurner
https://news.slashdot.org/story/18/08/27/168240/scientists-warn-the-un-of-capitalisms-imminent-demise
======
westurner
The actual document title: "Global Sustainable Development Report 2019 drafted
by the Group of independent scientists: Invited background document on
economic transformation, to chapter: Transformation: The Economy" (2018)
[https://bios.fi/bios-
governance_of_economic_transition.pdf](https://bios.fi/bios-
governance_of_economic_transition.pdf) [PDF]

Why I distrust command economies (beyond just because of our experiences with
violent fascism and defense overspending and the subsequent failures of
various communist regimes):

We have elections today. We don't choose to elect people that regard the
environment (our air, water, land, and other natural resources) as our most
important focus. A command economy driven by these folks for longer than a
term limit would be even more disastrous.

The market does not solve for 'externalities': things that aren't costed in.
We must have regulation to counteract the blind optimization for profit (and
efficiency) which capitalism rewards most.

Environmental regulation is currently insufficient; worldwide. That is the
consensus from the Paris Agreement which 195 countries signed in 2015.
[https://en.wikipedia.org/wiki/Paris_Agreement](https://en.wikipedia.org/wiki/Paris_Agreement)

Maybe incentives?

We could sell tokens for how much pollutants we're allowed to f### everyone
else over with and penalize exceeding the amount we've purchased. That would
incentivize firms to pollute less so that they can save money by having to buy
fewer tokens. (Europe does this already; and it's still not going to save the
planet from industrial production externalities)

So, while I'm wary of any suggestion that a command economy would somehow
bring forth talent in governance, I look to this article for actionable
suggestions that penalize and/or incentivize sustainable business and living
practices.

Sustainable reporting really is a must: how can I design an investment
portfolio that excludes reckless, irresponsible, indifferent, and careless
investments and highly values sustainability?

No one likes to be driven by harsh penalties; everyone likes to be rewarded
(even with carrots as incentives).

Markets do not solve for long term outcomes. Case in point: the market has not
chosen the most energy efficient cryptocurrencies. Is this an information
asymmetry issue: people just don't know, or just don't care because the
incentives are so alluring, the brand is so strong, or _the perceived security
assurances of the network outweighs the energy use_ (and environmental impact)
in comparison to dry cleaning and fossil fuel transport.

How would a command economy respond to this? It really is denial and delusion
to think that the market will cast aside less energy efficient solutions in
order to save the environment all on its own.

So, what do we do?

Do we incentivize getting inefficient vehicles off of the road and into a
recycling plant where they belong?

Do we shut down major sources of pollution (coal plants, vehicle emissions)?

Do we create tokens to account for pollution allowances (for carbon and other
toxic f###ing chemicals)?

Do we cut irrational subsidies for industries that don't pay their taxes (even
when they make money); so that we're aware of the actual costs of our
behavior?

Do we grow hemp to absorb carbon, clean up the soil, replace emissions, and
store energy?

Who's in the mood to dom these greedy shortsighted idiots into saving
themselves and preventing the violation of our right to health (life)? No, you
can't because you're busy violating your own rights and finding drugs/druggies
and that's not allowed? Is that a lifetime position?

"Go burn a charcoal grill and your gas vehicle in your closed garage for
awhile and come talk to me." That's really what we're dealing with here.

Anyways, this paper raises some good points; although I have my doubts about
command economies.

[strikethrough] You can't do that to yourself. [/strikethrough] You can't do
that to others (even if you pay for their healthcare afterwards).

Where's Captain Planet when you need 'em, anyways?

~~~
salawat
The problem may actually be solved by a free market... But it has to have
different optimizations.

"Value" or "Quality" of a company has to stop being measured in unconstrained
growth and instead measured in minimized externalities, while achieving your
stated goal.

Accounting has to become a hell of a lot more complicated. We're talking "keep
track of your industrial waste product", possibly even having to take
responsibility in some manner for dealing with it directly.

There also needs to be some societal change as well. We need to Look at how
we've stretched our supply and industry chains worldwide and start to figure
out ways to minimize transportation and production costs.

Competition may need to fundamentally change it's nature as well. Trade
secrets need to be ripped out into the light of day. It's not a contest of out
doing the other guy, but to see who can find a way to make the entire industry
more efficient.

Definitely a lot of change needed. That is for sure.

