Is Sustainable Capitalism an Oxymoron?

Author: Schweickart, David

Source: Perspectives on Global Development and Technology, Volume 8, Numbers 2-3, 2009 , pp. 559-580(22)

Publisher: BRILL

Buy & download fulltext article:

Price: $35.00 plus tax (Refund Policy)

Abstract:

Is Joel Kovel right that it is either “the end of capitalism or the end of the world”? Or are Paul Hawken, Amory and Hunter Lovins right that we are on the brink of a “natural capitalism” that can usher in an ecological and social utopia, “a world where cities have become peaceful and serene because cars and buses are whisper quiet, vehicles exhaust only water vapor, and parks and greenways have replaced unneeded urban freeways…. Living standards for all people have dramatically improved, particularly for the poor and those in developing countries. Involuntary unemployment no longer exists….” I argue that while Hunter-Lovins' have much to offer and Kovel overstates his case, a sustainable capitalism is highly unlikely. I sketch an alternative to both “natural capitalism” and Kovel's non-market socialism that is more promising than either.

Keywords: CAPITALISM; SOCIALISM; SUSTAINABILITY; NATURAL CAPITALISM; EXPONENTIAL GROWTH; ECOLOGICAL CRISIS; ECONOMIC DEMOCRACY

Document Type: Research article

DOI: http://dx.doi.org/10.1163/156914909X424033

Affiliations: 1: Loyola University Chicago

Publication date: 2009-04-01