Question

From your readings of the book “Sustainable Capitalism.” How is sustainable capitalism different from traditional market-based capitalism which has historically dominated our economic system?

Answer 1

Sustainable capitalism

The word sustainable is often related to environmentalism or naturalism. Sustainable capitalism is a conceptual term that attempts to describe the sustainable practices that seeks to protect the environment and mankind from the externalities. It applies sustainable values or practices in to socio-economic aspects of capitalism is often called "sustainable capitalim".

Sustainable capitalism is quite different from the traditional capitalism because it has avoided the money value of natural resources which is the life line of traditional capitalism. Under Traditional capitalism raw materials such as natural and intellectual combined together to create a marketable products or services for maximising profit. But sustainable capitalism appears to move in to a circular economy where the final product to be reinvested for the people and environment. It requires more responsibility on the gaint corporates to reduce externalities.

Capitalism actually exploiting our narural resources to maximise profit which adversely affect the environment and the society simultaneously. Traditional capitalism historically dominated by exploiting all types of resources and produce excess commodities and searching for new markets to earn money... As a result the It remained the most dominated economic system. But now sustainable capitalism shows there is no trade off between capitalism and other economic systems like Socialism. We will move on to a successful new model of sustainable capitalism from the traditional capitalism all over the world in 2030.