"We have an urgent responsibility. Our existing economic system is incapable of addressing the social and ecological crises we face in the 21st century. When we look around we see an extraordinary paradox. On the one hand, we have access to remarkable new technologies and a collective capacity to produce more food, more stuff than we need or that the planet can afford. Yet at the same time, millions of people suffer in conditions of severe deprivation. What explains this paradox? Capitalism."
"Even if we live in a democracy and have a choice in our political system, our choices never seem to change the economic system. Capitalists are the ones who determine what to produce, how to use our labour and who gets to benefit. The rest of us the people who are actually doing the production do not get a say."
The current economic system fails to address mounting social and ecological crises despite technological capacity and abundant production. A tiny minority who control capital—major banks, corporations, and the wealthiest investors—dictate what is produced, how labour is used, and who benefits. Workers who perform production lack meaningful decision-making power. Profit maximization, not human needs or ecological goals, drives production, enforcing a requirement for perpetual growth. This profit-driven dynamic produces excessive, often harmful goods while underproducing essential public needs such as affordable housing and public transit.
Read at www.theguardian.com
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