PLEA Network

28 December 2015, Climate News network, Markets cannot solve the climate crisis. How did we get to where we are now? “Free range” capitalism could be the explanation for climate change, and needs taming, says one writer. It may not be polite to mention Karl Marx in America, but leading thinkers on the left think that capitalism may be the cause of climate change, and that to save the planet the system needs fundamental reform. According to a new book the profit motive, which drives capitalism above all other considerations, forces it to extract everything from the planet that will generate a surplus, at the expense of real benefits to humans and ecosystems. Fossil Capital: the Rise of Steam Power and the Roots of Global Warming, by Andreas Malm, out in hardback from Verso in January 2016, analyses capitalism’s role in global warming by delving into its past. The book builds on the work of Naomi Klein’s 2014 This Changes Everything: Capitalism vs the Climate. Both ask whether catastrophic climate change can be averted without at least a major makeover – or the outright elimination – of capitalism. Malm, a professor of human ecology at Sweden’s Lund University, starts with James Watt’s patenting of the rotating steam engine in 1784. This was also the first year that rising carbon dioxide and methane levels were observed in polar ice. First Malm attacks the accepted theories of David Ricardo and Thomas Malthus. who developed and reinforced the capitalist notion that markets are the cure for all social ills. He shows that mills adopted coal power instead of water only because it enabled mill owners to move to populated areas to find docile and skilled workers, who were in short supply in the countryside. More biddable Coal enabled this move because, once out of the ground, it is highly portable. The machines, of course, eliminated many jobs and made others both simpler and more difficult. Owners started hiring women and children because they were easier to control than adult men. Read more here