SOSC 1430 Study Guide - Final Guide: Green Climate Fund, Copenhagen Accord, Carbon Sink
3 Oct 2016
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Document Summary
Climate-crisis capitalism - turning a medium/long-term humanity-threatening prospecting a short-term source of commodi cation, speculation, and pro t. Commodi cation of nearly everything that could be seen as a carbon sink, especially forests, agricultural land and even the ocean"s capacity is sequester" (suck in) carbon dioxide for photosynthesis via algae. Markets have not performed with any degree of sustained effectiveness. Biggest crisis humanity has ever faced, nancial markets anarchic. At some point, capitalism can destroy itself we thought that markets worked. Global elites" reliance upon market-centric strategy is inadequate. Wrecked nancial stability - mountain of private and public debt to be reduced and restructured. Blew up the economic model based on housing, credit expansion and nancial services, depriving governments of substantial tax revenues. Financial and economic shocks have produced widespread insecurity - critical weaknesses in our capacity to recreate sustainable growth. The limits of the search for market solutions to market problems are not yet known.
