unlearn capitalism

At its core, capitalism as an economic and political system involves the sustained accumulation of wealth. It fundamentally relies on an abundance of human labour and natural resources, yet demands their perpetual exploitation in order to survive.

Thus the contradictions of capitalism arise—for capitalists to accumulate surplus value: 1. Their workers must be paid less than the full value of their work. However, these workers also make up the market of buyers that capitalists provide goods & services for. That is, a market of people with compromised purchasing power must sustain a system that exists thanks to their own exploitation.

2. They must facilitate the continuous acceleration of uncapped economic growth on a planet with finite natural resources, causing ecological destruction at a rate faster than nature can replenish itself. As this occurs, there is a higher risk of natural disasters and resource scarcity, posing a direct threat to the ability of capitalism to continue to operate.

Environmental protection under neoliberal capitalism seeks to turn nature into a commodity.

Thus neoliberalism is born—the collection of economic policies which favour free-market capitalism at all costs. It prioritises privatisation and deregulation (or creating regulation that actively favours the market), whilst secondarily encouraging voluntary charity groups to make up for a lack of government support, and communities that do not rely on government-provided necessities. The unchecked growth which results from this inevitably leads to the uneven development of global markets— those who propel environmental degradation benefit the most, and will suffer the least from their actions.

Environmental protection under neoliberal capitalism seeks to turn nature into a commodity. Into a ‘thing’ that can be bought and sold by society’s rich and powerful. Not only is this corrupt, given that the land to be traded in so-called Australia was violently stolen, never sold or ceded, but by this standard, the natural world only matters if these groups have sufficient reason to value it—if it serves capitalist needs. In theory, this solution aims to generate a valuing of (and therefore caring for) the environment, but ultimately fails due to the contradictions of capitalism.

‘Cap and trade’ is a significant example—businesses are given a maximum level (“cap”) of environmental degradation that they can commit, which can then be traded on the market between businesses. This is the idea that it doesn’t matter where the emissions come from, as long as they are limited to a certain degree. However, this creates a new market under a system that prioritises accumulation over environmental protection— the richest and largest businesses are able to afford to continue to harm the planet. It is a passive strategy that fails to combat the flaws of capitalism, and instead perpetuates them by using them as a strategy which will ultimately collapse on itself.

Under capitalism, there is no viable system that allows for effective mitigation of capitalist-induced environmental challenges. Neoliberal solutions do not exist to altruistically save the environment, nor to liberate the people who environmental disasters will impact the most—who exist in a compromised position due to this system. Fundamentally, capitalism is a system that eternally perpetuates the uneven growth and return of profit to a small proportion of people, whilst exploiting others and the natural environment indefinitely.

Shani Patel USyd Enviroment Officer 2020