I have come to the conclusion that capitalism is successful primarily because it can impose the majority of the costs associated with its economic activities on outside parties and on the environment. In other words, capitalists make profits because their costs are externalized and born by others. In the US, society and the environment have to pick up the tab produced by capitalist activity.
Figuratively speaking, a ginormous asteroid is hurtling to a cataclysmic rendezvous with earth, but we are not supposed to notice. The asteroid is the rising threat from environmental degradation. Evidence is accumulating that environmental degradation is becoming global.
We've been so busy with bail outs, unemployment, corruption and the destruction of the middle class, we as a nation seem to have put global warming on the back burner. With the country baking, temperatures so high assuredly there will be deaths, let's revisit the economic impact of climate change. Below is NASA's witness global warming in 26 seconds video.
Welcome to the weekly roundup of great articles, facts and figures. These are the weekly finds that made our eyes pop.
Fed Chair Bernanke Warns on Europe, Jobs Crisis
It's astounding to me, that even the big banker in chief knows the jobs crisis and what's going on in Europe can bring the U.S. to it's knees, unlike most of the punditry these days:
over-financialization of the American economy, the waste of privatized health care, over militarization of the American economy, and the externalization of global warming.
The total cost of conservative rule, in today’s dollars, is a staggering $27 trillion, nearly twice the total output of the entire U.S. economy for an entire year.
We've been so busy with bail outs, unemployment, corruption and the destruction of the middle class, we as a nation seem to have put global warming on the back burner. With the country baking, temperatures so high assuredly there will be deaths, let's revisit the economic impact of climate change. Below is NASA's witness global warming in 26 seconds video.
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