Don't+Worry?+(American+Capitalism)

=Why Worry? = =American Capitalism =



- Capitalism, by definition, is “an economic and political system characterized by a free market for goods and services and private control of production and consumption.” [i] - It used to be that paying more meant you got better quality goods. Now all we want is cheap stuff, which in turn causes the deforestation, melting of ice caps, etc. - “Capitalism is dooming itself because it is polluting and depleting its resource base – natural capital – in its frenetic pursuit of profits and growth. The tragedy of modern capitalism lies in its denial that there is a biophysical limit to exponential consumption and growth.” [ii] - We cannot bailout Nature like banks or major corporations. Once it ‘files bankruptcy’, it’s done. - Many nations see the United States as a leader and we need to set the proper example.
 * Problem**:

- We are living “beyond our needs.” - Causes of financial crises listed were “short- termism, [and] poor governance and regulation,” among others. - We lack foresight and rather focus on quick returns without worrying of our future. - Countries, such as China, aspire to be like the United States, which could be detrimental to the environment. [iv] - If we continue on this path, we will quickly deplete our natural resources, causing a worldwide economic crash (which can be predicted with foresight by economic means).
 * Need to Address Problem Because** [iii] :

- Change our metrics! - Current metrics include Dow Jones, Gross Domestic Product, and Gross National Product, but “both metrics fail to consider the integrity of our environment, the health of our families and the quality of our education”iii (i.e. natural/human resources. - Kennedy describes these as the things that “make life worthwhile.” - In addressing one sustainability problem, we address several others. “For example, by challenging America to generate 100% carbon-free electricity within 10 years -- with the building of a 21st century Unified National Smart Grid, and the electrification of our automobile fleet -- we can encourage investment in our economy, secure domestic energy supplies, and create millions of jobs across the country.”iii - There are several metrics being developed in place of Dow Jones, Gross Domestic Product, and Gross National Product such as:
 * Suggestions for Addressing Problem**:
 * the Index of Sustainable Economic Welfare (ISEW) [v] ,
 * the Genuine Progress Indicator (GPI) [vi], and
 * the Green National Product [vii].

[i] "capitalism." //The American Heritage® New Dictionary of Cultural Literacy, Third Edition//. Houghton Mifflin Company, 2005. 08 Feb. 2010. . [ii] Robertson, Hugh. “Capitalism and Sustainability.” //Future Generations Party//. N.p., n.d. Web. 5 Feb. 2010. . [iii] Al Gore and David Blood. "We Need Sustainable Capitalism. " //Wall Street Journal// 5 Nov. 2008, Eastern edition: ABI/INFORM Global, ProQuest. Web. 7 Feb. 2010. [iv] John Bussey. "The Decade (A Special Report): World --- The Rising Influence of Rising Affluence: As Terrorism and War Shook the World, Sweeping Change Came From the Spread of Economic Liberalization. " Wall Street Journal 21 Dec. 2009, Eastern edition: ABI/INFORM Global, ProQuest. Web. 8 Feb. 2010. [v] Wikipedia contributors. "Index of Sustainable Economic Welfare." //Wikipedia, The Free Encyclopedia//. Wikipedia, The Free Encyclopedia, 10 Nov. 2009. Web. 7 Feb. 2010. [vi] Wikipedia contributors. "Genuine progress indicator." //Wikipedia, The Free Encyclopedia//. Wikipedia, The Free Encyclopedia, 20 Jan. 2010. Web. 7 Feb. 2010. [vii] Wikipedia contributors. "Green National Product." //Wikipedia, The Free Encyclopedia//. Wikipedia, The Free Encyclopedia, 29 Oct. 2009. Web. 7 Feb. 2010.

[Last updated: February 8, 2010]