Capitalism could conquer climate change

Monday, October 28, 2019
 | 
Chris Woodward (OneNewsNow.com)

cash registerMany of the people sounding the alarm over man-made climate change believe our economy and lifestyle are contributing to the problem, but one policy analyst argues that capitalism is actually good for the environment.

"The data bears it out," says Katie Tubb, senior policy analyst for energy and environmental issues at The Heritage Foundation, a center-right think tank in Washington, D.C. "As people become wealthier, they have the ability to take better care of their environment around them, and capitalism is one of the best tools we know of to enrich all people."

Even so, simple web searches on capitalism and climate change will result in dozens of articles, blogs, and policy papers from individuals, think tanks, and special interest groups arguing that "we are killing the planet."

On the campaign trail, presidential candidates like Senator Elizabeth Warren (D-Massachusetts) has stated that tackling the climate challenges will provide the country with the opportunity to grow the economy.

Tubb

"We can address climate change and strengthen our economy by making major upgrades to our crumbling infrastructure, building more resiliency along our coasts and rivers, constructing more renewable energy, and promoting policies that will spur new, innovative research," said Warren during a speech in March on climate change leadership. "These investments will protect our planet and create good jobs with living wages, strong benefits, and safe working conditions."

One of the knocks against climate plans from Warren and others is that they are very expensive and could be devastating to the economy. Tubb agrees.

"We're looking at trillion-dollar price tags to even just pieces of the Green New Deal," says Tubb. "It's very expensive, and if you model it out, it's not very beneficial for the environment."

Similar opinions have been shared about the Paris Climate Agreement.

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