Capitalism is one of many different systems of government that has been created. It is also one of the most wasteful. It is an economic system that was created in a different time when resources were in abundance and people were not. In today's world, the situation is the exact opposite. Capitalism contributes to the wasting of natural resources; therefore we need to come up with a better system of government that is not as wasteful. Capitalism is an outdated system of economics, but it still functions in today's society. It allows for private companies to become huge multi-national conglomerates without government oversight or government control of goods production. This allows for a free market in which anyone can participate in. There are few rules for how an item is made. Companies have the right to waste as much of a resource as they like. Environmentalists have the right to protest the manufacturer, but the manufacturer can still do whatever it likes. As stated by the famous economist Ludwig Von Mises, modern capitalism is mass production for the needs of the masses. Essentially, he is saying that people who buy products of capitalism are the same people that cooperate in the production of those products. Despite the economic burden capitalism has on our planet it is still one of the most widely used economic models. .
Capitalism is a hazard to our planet for multiple reasons but mainly because of the pollution and waste that it creates. According to a recent report, for every 100 pounds of product we manufacture in the United States, we create at least 3,200 pounds of refuse. The human race cannot continue to thrive if we continue to waste all of our natural resources. As explained by Herman E. Daily, a known economist, we are now facing a historic juncture in which the limits to increased prosperity are not the lack of man-made capital, but the lack of natural capital. If the countries of the world continue to waste natural resources at today's rate, they will consume all the natural resources that are on this planet in a couple hundred years.
