1.Can Capitalism Be Environmentally Sustainable?

These flashcards cover key vocabulary and concepts related to the debate on capitalism's environmental sustainability.

Capitalism

An economic system in which private individuals or businesses own capital goods and production is guided and restrained by the competition in a free market.

Ecological Limits

Natural thresholds or boundaries that ecosystems maintain to sustain life and avoid degradation.

Green Capitalism

A perspective that suggests capitalism can adapt and become environmentally sustainable through innovation, regulation, and market incentives.

Externalities

Costs or benefits incurred by third parties that are not reflected in market prices.

Carbon Tax

A tax imposed on fossil fuels, aiming to reduce carbon emissions by charging a fee for the carbon content of fuels.

Cap-and-Trade System

A market-based approach to controlling pollution that allows companies to buy and sell allowances for emissions.

Decoupling

The process of separating economic growth from environmental damage, suggesting that economies can grow while using fewer natural resources.

Ecological Marxist Perspective

A viewpoint that positions capitalism as fundamentally incompatible with ecological sustainability, emphasizing continuous growth and resource exploitation.

“Grow or Die” System

A concept where capitalism necessitates continuous expansion for survival, leading to environmental degradation.

Anthropocene

The current geological age viewed as the period during which human activity has been the dominant influence on climate and the environment.

Resource Curse

A paradox where countries rich in natural resources tend to have less economic growth, less democracy, and worse development outcomes.

Degrowth

An economic theory that advocates for a downscaling of production and consumption to enhance ecological conditions and improve quality of life.

Capability Approach

A framework for evaluating human well-being that focuses on the capabilities individuals have to pursue lives they value.