Capitalism is Killing the Planet, We Need a New Economic Model
Policies favourable to fossil fuel companies have extracted our common wealth – our air, forests, land… – and put it in the hands of a small minority. Green policies are therefore bound to be redistributive at a time when inequality is soaring. One of the measures proposed to reduce the regressivity of carbon prices is redistributing tax revenues in favour of low and middle income earners. But, as anthropologist Jason Hickel reminds us, “Anything short of a binding cap on fossil fuel extraction, with declining annual targets that will wind down the industry to zero, is just hand-waving.”