The basic thesis of this paper is that there is an undeniable tension between maximization of individual welfare and a sustainable and healthy environment in a finite world. Following from this, the further claim is that our current capitalist system of private production and ownership is fundamentally in tension with the environment and should be changed. Without a change in attitude toward our conceptualization of these problems, that is, without contextualizing these problems outside of the market-based solutions and free market solutions, crisis is inevitable. Homo economicus needs to be replaced by homo environmentus.
Patel, Raj Navanit Mr
"Crisis: Capitalism, Economics and the Environment,"
Undergraduate Economic Review: Vol. 8:
1, Article 3.
Available at: https://digitalcommons.iwu.edu/uer/vol8/iss1/3