Write a 500 word critical summary of the text which explicitly adresses the following questions
1. How is sustainability defined in the text?
2. What are the main characteristics or tendencies of Capitalism
3. Define a 'crisis of Capitalism'. Offer an example.
4. What solutions have been offered to the sustainability question? Are these successful or realistic? - If not why are they flawed?
5. Is the concept of sustainability compatible with Capitalism?
Within the text, sustainability is defined as an inter- and intra- generational equality in the social, environmental, economic, moral and political spheres of society. This means that the needs of the present generation are met, without affecting future generations. It also states that sustainability is a concept that needs everyone to buy into.
According to the text, the main characteristics of Capitalism are that it is constantly looking for new things to commodify, therefore is never-ending, and is constantly expanding. Capitalism thrives on creating new businesses, however it is not a linear system and can reach crisis, without the constant expansion of these businesses.
Capitalism can reach crisis when it's limitations are reached. However, to ensure this doesn't happen, capitalization is reinvented. An example of this could be the the greenwashing of companies, this is when they change their image to show how eco-aware they are, even if they aren't. This way of reinventing themselves creates a new consumer market, ensuring customers keep on buying into them, under the illusion they are helping the environment.
Bio-diesel is becoming an increasingly popular alternative to traditional diesel fuel. using bio-diesel makes customers feel good about the product they are purchasing as it has lower emissions. Biox Corporation is one of the largest proponents of bio-diesel. In 'The Ecology of Commerce', Hawken's outlines four points to follow in order of becoming environmentally responsible, including 'radically increasing the productivity of resource use', 'shifting to biologically inspired production', 'shifting the business model away from the making and selling of ''things to providing the service that the ''thing'' delivers', and 'reinvesting in natural and human capital'. However there are flaws because the cycle of capitalism is perpetuated.
Sustainability discourse simultaneously blames capitalism for the current environmental problems whilst looking to it for solutions. However they are comaptible together, since the world is becoming more enivironmentally conscious and aware, sustainability is becoming a main factor in our everyday lives.
Balser, E (2008) 'Capital Accumulation, Sustainability & Hamilton Ontario'
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