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Capitalism is Saving the Planet Part 1: Wealth Makes Health, Eventually

We are often told that capitalism is destroying the planet, and that the only way we can repent from causing environmental degradation is to switch from a capitalist system to a socialist system. This thought process, however, could not be more wrong. Today we are going to talk about a phenomenon which is often referred to as the Environmental Kuznets Curve. The theory behind this idea can be summed up in these three steps: 1. When an economy is primarily pre-industrial and agrarian, the environment is usually clean and untouched by pollutants from industrial economic activities. 2. As the economy shifts towards development and...

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