Capitalism

"Don't shoot the messenger." Richard Smith's message may be sobering, but it's based on information that suggests we've reached a tipping point when it comes to climate change. How can we reverse the effects of greenhouse gases changing our climate? Smith says we can't – at least not under a corporate capitalist framework. The logic of corporate capitalism simply won't allow the large-scale changes needed to reverse the disastrous effects global climate change will have on life on our planet.

This article is a lightly revised and updated version of the article originally published as "Beyond Growth or Beyond Capitalism?" in Real-World Economics Review, issue 53, June 26, 2010, pages 28-42.

The past couple of decades of globalization have been a disaster for planetary ecosystems, indigenous peoples, and most middle-class citizens, but a gravy train for big investors, investment bankers, and managers of transnational corporations.

The results are in: No amount of "green capitalism" will be able to ensure the profound changes we must urgently make to prevent the collapse of civilization from the catastrophic impacts of global warming. The following is an updated version of an article that originally was published in the Real-World Economics Review. We consider Richard Smith's article foundational to understanding the world we live in.

TORONTO - By the time you finish lunch on Thursday, Canada's top paid CEOs will have already earned the equivalent of your annual salary. It may be hard to swallow, but according to an annual review by the Canadian Centre for Policy Alternatives, by 1:11 p.m. on Jan. 2, the average top paid Canadian CEO will have been earned as much as the average full-time worker's yearly income. The review found the average compensation among Canada's top 100 CEOs was $7.96 million in 2012. This compared with the average annual Canadian worker's salary of $46,634.

A shadowy but extraordinarily powerful legislation-mill and stealth-lobbying outfit, ALEC specialises in quietly shepherding right-wing legislation through America’s statehouses - a process that, until recently, went all but unnoticed by the national media. In recent months, however, ALEC has found itself the subject of a great deal of unwanted attention.

Digging into the underpinnings of the climate denial movement, a Drexel University study finds a large slice of donations funneled through pass-through organizations that conceal the original funder.

Koch Industries, ExxonMobil disappear from traceable public databases after 2007.

Conservative groups may have spent up to $1bn a year on the effort to deny science and oppose action on climate change, according to thefirst extensive study into the anatomy of the anti-climate effort. The anti-climate effort has been largely underwritten by conservative billionaires, often working through secretive funding networks. They have displaced corporations as the prime supporters of 91 think tanks, advocacy groups and industry associations which have worked to block action on climate change.

Bill McKibben, a founder of 350.org, has for years promoted the idea that Barack Obama, his administration and his Democratic Party can be won to a meaningful climate change policy. He has blamed the Obama administration’s pro-fossil fuel policies on the power of the oil lobby.

McKibben’s latest article, below, published in Rolling Stone magazine, takes a small step away from such illusory hopes.

When it comes to shipping coal, it looks like the Vancouver Port Authority is taking a page out of the U.S. coal lobby's books. In an effort to combat negative public opinion about coal and the proposed expansion of coal exports through Fraser Surrey Docks, the port authority has hired public relations firm Edelman Vancouver to revamp its image. Edelman is the largest public relations firm in B.C. and the company has a history of both pushing coal exports and disregarding public opinion.