/* George Monbiot: The Mind Hackers */
In the New York Times on Sunday, the Nobel economist Joseph Stiglitz [https://www.nytimes.com/2019/04/19/opinion/sunday/progressive-capitalism.html sought to distinguish] between good capitalism, that he called “wealth creation”, and bad capitalism, that he called “wealth grabbing” (extracting rent). I understand his distinction, but from the environmental point of view, wealth creation is wealth grabbing. Economic growth, intrinsically linked to the increasing use of material resources, means seizing natural wealth from both living systems and future generations.
To point to such problems is to invite a barrage of accusations, many of which are based on this premise: capitalism has rescued hundreds of millions of people from poverty – now you want to impoverish them again. It is true that capitalism, and the economic growth it drives, has radically improved the prosperity of vast numbers of people, while simultaneously destroying the prosperity of many others: those whose land, labour and resources were seized to fuel growth elsewhere. Much of the wealth of the rich nations was – and is – built on slavery and colonial expropriation.
Like coal, capitalism has brought many benefits. But, like coal, it now causes more harm than good. Just as we have found means of generating useful energy that are better and less damaging than coal, so we need to find means of generating human wellbeing that are better and less damaging than capitalism.