Is Free Market Capitalism inherently wasteful and unable to adapt to environmental change?

[JS57]

Free Market Capitalism seems to be a "slash and burn" model, great at opening out new resources and exploiting natural resources and working people. However, as resources diminish - it's not just oil, metals, water and biological resources are going, it doesn't seem able to adapt. The old habit of pushing consumers into buying stuff they don't need (or at the start want) to fabulously enrich the few, seems to be inbuilt.

Will we have to adapt the limited market approach of the Scandinavian countries, (which have some of the best standards of living in the world) in order to survive?

[Ferret]

Sounds sensible to me.

[john k]

Ikea the World!!!!!!!!

I hope not.

[J. Austin Hughey]

I think that it's not Free Market Capitalism that is the problem, but the current modern economy's interpretation of it. You're quite right in that it certainly is being used to run us dry on resources very quickly, but it's also an economic framework in which, if an individual or company can INNOVATE to improve upon the side effects (problems with environment, etc.), it opens up doors for fast adoption of said innovation and even faster propulsion and development of new technologies.

For example: let's say we found a way to generate all the clean, efficient energy we'd ever need and we no longer needed oil or refineries. The environment and economy would benefit from having an infinite source of energy, and it could be used for technology applications that we couldn't accomplish before because we weren't able to produce enough energy. Make sense?

Thanks for a great intellectual question. We need more of these here

[Jonathan C]

If the likes of the motor car industry and *mart are an example then the planet can look forward a swift end to mankind.
It will certainly be a lot better off with us gone.

[AtakanK]

At its heart, Free Market Capitalism(FMC) is not evil.We have had the essential ideas and practices of trade, production and wealth throughout history.However, FMC is not and cannot be practiced in its ideal form.Caring for the environment so that it can be exploited in the future instead of finishing it off for faster consumption is not about FMC, it's about pure greed.But because FMC doesn't come in ideal form, I think some sort of regulation over economy is inevitable-in fact there are very FEW countries that do not impose strict regulations.Unless social justice is not served, i.e. we do not give up our plasma tvs so that our poor can feed-or our ecosystem remedied-, there is no real solution.
I remember a FMC defending Professor who looked at us straight in the eye and claimed that Global Warming is a myth. Now, either he isn't FMC, or FMC is flat out bad.

[AtakanK]

Personally, nobody forces me to buy anything that I don't want to. To think that they do would imply that I don't have any control over my own pocketbook.

[A True Gentleman]

Look at Communism, that was so kind to the people and environment! lol Check out pollution in Russia and China pal.