Effect of Excess Capitalism on the Global Environment - Essay Example

Excess Capitalism Is Affecting The Global Environment

Introduction

Capitalism is an economic as well as a political system where a country’s industry and trade are controlled by private owners. The state plays a limited role in the economic affairs of the country. The introduction of capitalistic tendencies in the global economic system was designed to ensure economic liberation in various social constructions. Capitalism has brought immense transformations in the global society. For instance, capitalism ensures that the economy produces the most desired goods at an appropriate price. Economic growth in the society is the intrinsic reward in so far as innovation is concerned. The desire to ensure economic growth and expansion has provoked enhanced industrialization in many countries. While such initiatives have propelled many nations in the western hemisphere and around the globe towards a path to economic growth, it has also come with fatal flaws. Excess capitalism is affecting the global environment, and urgent measures are needed to curtail the negative tendencies.

Capitalism has brought tremendous changes in both domestic and international economies. Today, the growth in various countries is supported by strong structural economic. A collective majority of the reforms is geared towards the economic emancipation of the masses and creating wealth (Hill and Scott 20). The desire to create wealth and ensure that economic growth and development remain constant, industrialization has become the norm. The emergence of industries has provided fodder for citizens to the extent that they get employment opportunities in these settings. Moreover, the industries ensure revenue growth, and that allows the government to meet their obligations to the citizens. The government can provide services to the people when it has the financial resources at its disposal.

Capitalism ensures that the economy produces the goods and services needed by the people. The aspect of demand and supply ensures industries produce or manufacture goods that meet the needs and demands of the customers. Through capitalism, there is a constant supply of goods and services that are essential for human survival. Consumers of goods and services pay for the goods they desire. On the other hand, enterprises produce goods and sell at competitive prices with the aim of maximizing profits. Companies become efficient in the production of products as they supply the goods to the masses.

Karl Marx criticized capitalism for some of its tendencies. Marx noted that capitalism was an economic establishment designed to exploit the workers (Wood 160). The people who work in the industries work under severe circumstances. Moreover, these workers play a vital role in ensuring maximum productivity for the companies. Despite the fact that the workers work hard and under severe circumstances, the wages are low. Companies make profits at the expense of the workers. The profits obtained are not spread or shared with the workers to the extent that the owners of the factors of production carry everything. Workers create more exchange value when they are working than the cost of their survival. The fact that workers work longer hours and are paid lower wages disproportionate to the profits derived point to the exploitative nature of capitalism.

Marx also criticized capitalism for perpetuating inequality in the society. One of the primary tenets of capitalism is the distribution of power and wealth. Moreover, capitalism is geared towards market oligopoly or monopoly. The system also perpetuates imperialism and various forms cultural and economic exploitation. In a capitalist society, the workers, a majority of whom are poor are confined to the factories where they spend the time to produce goods for the market (Shaw 125). The company owners make these individuals work in the industries, and they are made to believe that the factories are critical establishments for deriving income. As the workers engage in the production of goods and services, they continue generating more profits and wealth for the company owners. The poor people have no incentives that allow them to thrive. Economic empowerment is not guaranteed. The accumulation of wealth by the rich continue unabated as the poor get condemned to the periphery. Such tendencies perpetuate inequality in the society because of the disproportionate allocation of wealth (Shaw 125).

Marx also criticized capitalism for creating market instabilities. Specifically, Marx noted that market instability was a constant feature of the capitalist economy. Marx noted that the explosive and unplanned growth of the capitalist system does not manifest in a smooth fashion Shaw 125). The aspect of growth is interrupted by factors such as overproduction a period where decline occurs, and stagnation becomes the norm. Capitalism bears numerous contradictions, especially when it comes to anarchy and the perpetuation of poverty and overabundance. The state of a particular society is put in a constant momentary barbarism because of too much commerce overemphasis on the industry. Marx noted that capitalism was not sustainable, especially when it comes to the transfer of commodities and materials. The global capitalist system is defined by the exchange of finished goods and resources for the sake of the consumer’s choices. The production of goods aid in the waste of resources and pollution becomes the norm under these circumstances.

Even though capitalism has been praised and condemned for its effects and impacts in various societies, the aspect of environmental implications has been ignored. Extreme capitalism is having far-reaching implications for the global environment. Today, climate change is one of the most critical issues affecting people in diverse social constructions around the globe (Magdoff and John 61). The emission of gases into the atmosphere has caused the destruction of the ozone, and that has caused the depletion of the Earth’s resources. Extreme temperatures, flooding, drought, hurricanes and storms are the manifestation of climate change. The emission of gases into the Earth’s atmosphere, mostly come from the industries. Many countries have shifted the focus on massive industrialization. China and India have become more industrialized as they seek to become giant economic establishments in the world. While these countries have done well through industrialization, which has employed many people, they have failed to consider the implications of extreme capitalism. The emission of gases in China and India has caused critical challenges to the well-being of the environment.

Extreme capitalism is affecting the global environment to a greater extent. Capitalism is unsustainable to the extent that its focus is always on increasing consumption, expansion of markets, and production in a finite planet. The extreme desire for profits compels corporations to wield influence, power and financial resources and that enable them to curtail environmental laws and regulations designed to protect the environment. For example, in the US, many companies emit or release tons of toxic waste to various ecological setups. These practices have negative implications on the environment in the sense that they cause toxicity in the large water bodies (Bishop 41). Human health is also affected when these toxic wastes are released into the environment.

Globalization has expanded the space for doing business. Today, companies can establish companies in different parts of the world with relative ease and comfort. However, the flexibility of enterprise to do business everywhere in the world has expounded the problem of environmental degradation. For example, companies in countries with strict environmental laws and programs have managed to move to other countries where there are less stringent measures aimed at ensuring environmental sustainability (Porritt 233). When these countries move to these societies, the destruction they cause to the environment through the emission of gases and release of toxic materials has negative implications for people’s health. Consequently, the practices of these companies affect the global environment to a greater extent.

Extreme capitalism has breached the several ecological boundaries with regard to biodiversity loss, climate change, and nutrient enrichment. Oil spills, carbon dioxide emission, and pollution have become the norm in the global environment. Due to extreme capitalism, more companies have embarked on different missions to extract oil and gas. The offshore drilling done in many countries around the globe has escalated the problem of environmental degradation. One of the most critical problems has to do with oil spillage. The ecological systems of the lakes and the oceans have been affected due to these oil drills (Porritt 233). The water has become toxic with the amount of acidity in these water bodies being enhanced effectively endangering aquatic life. The human populations that depend on the lakes and oceans have also been affected by the actions of the companies that either do offshore drilling or release wastes into these establishments.

Solutions are required to ensure that extreme capitalism does not continue to affect the global environment. One of the solutions should be to ensure that countries come up with strict regulations and laws that guide companies on gas emissions and dealing with toxic materials. Countries should cap gas emissions into the atmosphere. Through these initiatives, it is relatively easy to curtail the depletion of the environmental resources around the globe.

Global economies musty focus on renewable sources of energy that have less effect on the environment. The industries should seek alternative sources of energy such as solar energy and biogas to limit the burning of fossil fuels that have negative implications on the environment (Tiwari and Mishra 14). Companies hold the key to ensuring that the gas emissions are limited to certain levels. The prices of renewable sources of energy should be reviewed to make them affordable. Global environments can be made sustainable by focusing on energy efficient buildings and tools.

Conclusion

Excess capitalism is affecting the global environment, and urgent measures are needed to curtail the negative tendencies. Extreme capitalism has been perpetuated by the desire to create wealth and ensure that economic growth and development remain constant. Capitalism was previously criticized for being exploitative, and a system that promotes alienation and inequality. However, the effects of extreme capitalism on the global environment has never received much attention. Capitalism is unsustainable to the extent that its focus is always on increasing consumption, expansion of markets, and production in a finite planet. The system has breached the several ecological boundaries with regard to biodiversity loss, climate change, and nutrient enrichment. The solution should be to establish laws and regulations that guide the industries on gas emissions and release of toxic materials. Also, there should be a focus on renewable sources of energy.

Marx also criticized capitalism for perpetuating inequality in the society. One of the primary tenets of capitalism is the distribution of power and wealth. Moreover, capitalism is geared towards market oligopoly or monopoly. The system also perpetuates imperialism and various forms cultural and economic exploitation. In a capitalist society, the workers, a majority of whom are poor are confined to the factories where they spend the time to produce goods for the market (Shaw 125). The company owners make these individuals work in the industries, and they are made to believe that the factories are critical establishments for deriving income. As the workers engage in the production of goods and services, they continue generating more profits and wealth for the company owners. The poor people have no incentives that allow them to thrive. Economic empowerment is not guaranteed. The accumulation of wealth by the rich continue unabated as the poor get condemned to the periphery. Such tendencies perpetuate inequality in the society because of the disproportionate allocation of wealth (Shaw 125).

Marx also criticized capitalism for creating market instabilities. Specifically, Marx noted that market instability was a constant feature of the capitalist economy. Marx noted that the explosive and unplanned growth of the capitalist system does not manifest in a smooth fashion Shaw 125). The aspect of growth is interrupted by factors such as overproduction a period where decline occurs, and stagnation becomes the norm. Capitalism bears numerous contradictions, especially when it comes to anarchy and the perpetuation of poverty and overabundance. The state of a particular society is put in a constant momentary barbarism because of too much commerce overemphasis on the industry. Marx noted that capitalism was not sustainable, especially when it comes to the transfer of commodities and materials. The global capitalist system is defined by the exchange of finished goods and resources for the sake of the consumer’s choices. The production of goods aid in the waste of resources and pollution becomes the norm under these circumstances.

Even though capitalism has been praised and condemned for its effects and impacts in various societies, the aspect of environmental implications has been ignored. Extreme capitalism is having far-reaching implications for the global environment. Today, climate change is one of the most critical issues affecting people in diverse social constructions around the globe (Magdoff and John 61). The emission of gases into the atmosphere has caused the destruction of the ozone, and that has caused the depletion of the Earth’s resources. Extreme temperatures, flooding, drought, hurricanes and storms are the manifestation of climate change. The emission of gases into the Earth’s atmosphere, mostly come from the industries. Many countries have shifted the focus on massive industrialization. China and India have become more industrialized as they seek to become giant economic establishments in the world. While these countries have done well through industrialization, which has employed many people, they have failed to consider the implications of extreme capitalism. The emission of gases in China and India has caused critical challenges to the well-being of the environment.

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