Tuesday, March 3, 2015

Because of competition, capitalism is incapable of doing the right thing. Even when more profitable.

Investing in Energy Efficiency Pays Off - NYTimes.com: "Nationally, the potential savings from energy conservation investments are astounding. In a 2012 study, Deutsche Bank and the Rockefeller Foundation found that retrofitting buildings for energy conservation in the United States could save $1 trillion over a decade, reduce American greenhouse gas emissions by 10 percent, and spur employment across the country."
Even non-profits are managed to the quarter. Investments that have better return are ignored if the return is over a long period, or spread over many beneficiaries. Investment managers are forced to think small and short-term. This is why capitalism is destroying the biosphere.