Title: Sustainable capitalism - Wikipedia
Headings: Sustainable capitalism
Sustainable capitalism
Contents
Governance and economic aspects
Environmental aspects
Social aspects
Criticism
Marxist view
Sustainable capitalism as an oxymoron
Government reluctance
See also
References

Content: According to him, classical economists like Adam Smith had always intended for market economics to be tempered by property owners' moralities, and neoclassical economists put undue faith in the ability of markets to automatically adjust to physical and moral imperatives. Ikerd concludes that a system of environmental regulations founded on a popular, ethical consensus is necessary and sufficient to prevent excessive climate change. Sustainable capitalism is also viewed as a non-transcendent, regulated commodity to humanity due to the ever-increasing demands of environmental regulation. Geoffrey Strickland emphasizes that current discussions on economic development are led by the notion that human reproduction is a commodity that must be regulated and improved in order to encourage market efficiency, which is a phenomenon that counteracts the growth of capitalism. Criticism
See also: Steady-state economy § Capitalism without growth
Marxist view
According to the Marxist understanding of capitalism as production for profit, it is impossible to prioritize environmental sustainability without abolishing capitalism. Ernest Mandel claims that when profit maximization requires a business to pollute the air, "the simple right to clean air is abolished". Under his conception of capitalism, profit necessarily subjugates the environment, and properly accounting for the social costs of production requires some form of socialist planning. Any attempt to adequately protect the environment within such a capitalist framework is doomed to fail, so the argument goes, because society simply is not structured to be willing to sacrifice private profits for public endeavors on this scale. Sustainable capitalism as an oxymoron
The Capital Institute describes the concept of sustainable capitalism as an oxymoron.