The evils of capitalism have been well understood (Criticisms of Capitalism) and well covered with the increasing number of documentaries (like The Corporation, Enron: Smartest guys…) There has been lots of academic discourse and alternatives like Participatory Economics have been suggested. Yet, Capitalism remains the most prevalent system in today’s world by a long way. Simply because, our response time scales to any change around us are pretty large. Inertia is something that we have never learnt to overcome, that easily. We would rather live with the problems than work against the inertia.
Talk of change brings resistance, argument and controversy. You know, this then becomes a favorite topic among people who love these things (like me and some of my friends). Some of those discussions translate to blog posts. Here is a recent one we had over at my friend’s blog. (If you are someone familiar with such arguments, I would advise you to stay away. If the rare event of reading my arguments happens, some of my arguments are done for the sake of initiating a discussion and need be read in that light 😉 Also, being amateurs, we mix a lot of arguments. So, caveat lector.)
A post at On Philosophy puts the argument in clearer and simpler terms. It goes on to comment upon limited socialism as a system that has been tried a little.
Something related here. Jim has a post over at HBS working knowledge asking “Will Market Forces Stop Global Warming?”. The third comment (as Anon) is mine. You might want to read this report of the IPCC’s latest report on *widespread impact of global warming*.