The End of Capitalism

Capitalism has led to many positive developments. Yet, at the same time, it is not sustainable. Economic expert and bestselling author Ulrike Herrmann explains clearly and incisively why “Green growth” is not the answer, and why what we need instead is “degrowth.”

The climate crisis is getting worse every day, but in practice almost nothing is changing. Greenhouse gases are increasing, dramatically and unchecked. This failure is no accident, because the climate crisis aims at the heart of capitalism. Prosperity and growth are only possible through the use of technology and the burning of energy. Unfortunately, green energy from the sun and wind will never be enough to fuel global growth. So industrialized countries are going to have to say goodbye to capitalism and strive for a circular economy in which we only consume what we can recycle.

How do we manage the transition without the collapse of the economy? The best model, as it turns out, is the British wartime economy after 1940.