Seeing Wetiko: We Must Reject Economic Cannibalism
When Milton Friedman won the Nobel Prize in Economics, he promoted the current story: “the only responsibility of business is to maximize profits, regardless of the social and environmental costs.” The rules governing business ever since reflect that story. That was in 1976, a time when financial capital was considered in short supply and nature abundant. No one was talking about peak oil or climate change. But that is no longer true. The situation has changed. The story and the rules must also change.
Tip of the Hat to Ty Simpson.
