Capitalism and global sustainability are incongruous with one another, according to a recent paper for the UN’s 2019 Global Sustainable Development Report.
The team of researchers from various academic institutions throughout Finland who wrote the report gave a sobering assessment of the planet’s future if the current economic order continues unabated. Namely, that all rich Western countries have based their societies on an abundance of cheap energy, which the scientists say is no longer a reality.
“Economies have used up the capacity of planetary ecosystems to handle the waste generated by energy and material use,” the paper reads. “[D]ominant economic theories as well as policy-related economic modeling rely on the presupposition of continued energetic and material growth. The theories and models anticipate only incremental changes in the existing economic order. Hence, they are inadequate for explaining the current turmoil.”