Reformism Vs Revolution – How do we galvanise capitalism to be environmentally and economically profitable?
Capitalism, in the opinion of many, is far from the social ideal. Before embarking on this article, it is probably wise to define what capitalism really is.
A standard definition is: ‘An economic and political system in which a country's trade and industry are controlled by private owners for profit’.
So, what is it about this system that some economists, activists, commentators and scientists criticise?
Well, from an environmental perspective, the intrinsic nature of expansion and the pursuit of profits fuelled by fossil-fuel is largely accepted as the prominent driver of the climate crisis. The accelerated use of fossil-fuels, particularly since 1840, has provided a platform from which the pursuit of expansion, profit, and consumption has launched.
But what is the alternative? To not pursue profit?
As we advance further into the Anthropocene, the need for action at production, consumer, and (potentially in contradiction to a free-market economy structure) at legislative levels too, is becoming more and more pressing. However, is the answer revolution or reformism?
Let's explore the former – revolution. When researching this article and looking for popular alternatives to capitalism, the most prominent results were socialism and communism. Delving deeper, we discover ideas, most notably, set out in the ‘pluriverse’ that showcase a path leading away from using GDP as the most prominent metric for a stable economy. Instead, metrics such as ‘The Common Good Matrix’ outline ways in which overall health and wellbeing are used as the primary indication of a stable economy. It sounds idealistic and, on paper at least, like a far more beneficial structure (at least to the environment) than our current set up.
However, what is the efficacy of it? How likely are we to attain this future ubiquitously? A question made all the more pressing as our most precious resource for achieving change (time), is continuously beaten down on the anvil of climate change.
This then leads us to another avenue to follow in our search for an alternative to the existing capitalist structure; reformism – revolution's more measured cousin. What if the answer to pointing capitalist expansion and pursuit of profit towards being pro-environmental already lies within the model?
If we accept the empirically endorsed notion that the core issue at the heart of the climate crisis is the fuel by which we resource our expansionist methods of production and consumption, then this may be a suitable aspect by which to test our reformist ideals.
The advancements within ‘clean’ renewable energy technology in the last 10 years has been transformative. So, is it safe to say that a significant rise in our use of renewable energy could enable the capitalist status-quo to remain in place, in a new capacity of working for the environment?
No, or at least not likely. But it does demonstrate that, with some reform, capitalism has the potential to change to green, without flying the red flag of socialism.
But how can these changes really be applied? Well, here’s where you come in; because it is not simply changing economic activity at the supply level. Business owners, employers, and employees alike can implement seismic change to the way in which a business, operating within a capitalist model, interacts with the environment. Enhancing your ESG strategy, partnering with charities, and operating in a B Corp capacity, all work to change the economic-environmental interactions for the better.
DSWF are already working with many forward-thinking, progressive businesses who have an eye, not only for the environment, but, of course, profit too. They are experiencing the benefits of charity-business partnerships, and you can too.
Let's chat about how our conservation activities can complement your business, the environment and biodiversity. The best part? You don’t need to wait for someone else to initiate change, it is within your grasp.