I have been thinking recently about the idea of capitalism and whether or not it is compatible with the Anthropocene. The economic systems of capitalism have been to blame for most of our current environmental struggles because of the waste it produces. The current notion of capitalism and its definition of progress is a formula which extracts natural resources, refines them into consumer goods and then takes little responsibility for the massive amounts of waste produced.
I was wondering if capitalism could be utilized to reverse the current definition of progress. Could the economic incentives be harnessed to push environmental responsibility? Or does capitalism need to be completely removed from society in order for us to move on?
The one aspect that capitalism brings to the table which I believe is very desirable is the sense of urgency. When there are potential gains from trade to be made, and the current political-economic situation is operating under a system of capitalism, entrepreneurs race for entry into the new market. This urgency is something that is the Anthropocene desperately needs. If capitalism could be operated under a new definition of progress and used to pursue environmentally responsible ways of living, I think that the urgency that comes along with it would be something that the Anthropocene would desperately need.
Not only does capitalism provide an urgency to create market solutions, those market solutions have to be successful once they reach market in order for the entrepreneurs to make the profit they desire. So this not only fuels urgency, but also critical innovation to create quality solutions to the problems we face. I think that both the urgency and innovation created by capitalism would be vital components to problem solving in the Anthropocene.