ABSTRACT
This chapter argues that the current economic system in Europe and America is failing mankind. It identifies the current system as the neo-liberal version of capitalism, which is based on the principle that the best result for everyone (both producers and consumers) is achieved by allowing them to engage in economic activity in a completely free market, without interference from the state. Prior to the shift towards neo-liberalism, capitalism had been very successful in bringing prosperity to Britain and the USA, and this is still true today of China and other countries that have recently adopted capitalism. The analysis presented implies that capitalism, through the stimulus that it gave to the development of industrialization, has been a major factor in causing the current environmental crisis and, with its emphasis on ever-increasing output, is likely to remain a negative influence in the future.
