Billionaires Are the Leading Cause of Climate Change
That’s largely because there is no “free market” incentive to prevent disaster. An economic environment where a company is only considered viable if it’s constantly expanding and increasing its production can’t be expected to pump its own brakes over something as trivial as pending global catastrophe. Instead, market logic dictates that rather than take the financial hit that comes with cutting profits, it’s more reasonable to find a way to make money off the boiling ocean. Nothing illustrates this phenomenon better than the burgeoning climate-change investment industry. According to Bloomberg, investors are looking to make money off of everything from revamped food production to hotels for people fleeing increasingly hurricane-ravaged areas. A top JP Morgan Asset investment strategist advised clients that sea-level rise was so inevitable that there was likely a lot of opportunity for investing in sea-wall construction.
(tags: capitalism environment politics future climate-change doom)