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| -Signs, Portents, and the Weather- |
| Capitalism is killing the planet and needs to change, says investor Jeremy Grantham |
| 2018-06-17 |
| [CNBC] Jeremy Grantham, the longtime investor famous for calling the last two major bubbles in the market, is urging capitalists and "mainstream economists" to recognize the looming threat of climate change. "Capitalism and mainstream economics simply cannot deal with these problems. Mainstream economics largely ignore [them]," Grantham, who co-founded GMO in 1977, said Tuesday in an impassioned speech at the Morningstar Investment Conference in Chicago. "We deforest the land, we degrade our soils, we pollute and overuse our water and we treat air like an open sewer, and we do it all off the balance sheet." This negligence is due in large part to how short-sighted corporations can be, Grantham said. "Anything that happens to a corporation over 25 years out doesn't exist for them, therefore, as I like to say, grandchildren have no value" to them, he said. |
| Posted by:Besoeker |
| #8 My senior paper in Poli Sci was on the ecological nightmare or the Soviet Union. It all had to do with the accounting principles and the concept of a free good. There was no motivation to conserve anything and the results were horrific. |
| Posted by: AlanC 2018-06-17 17:58 |
| #7 Now an abstract (capitalism) is responsible for climate change (conditions caused bu continent location, amount of solar output, ocean currents, etc.)! Whats next, the color choices offered by Crayola? |
| Posted by: AlmostAnonymous5839 2018-06-17 16:07 |
| #6 Capitalism is the worst economic system, except for all of the others. |
| Posted by: rjschwarz 2018-06-17 13:33 |
| #5 This negligence is due in large part to how short-sighted corporations can be, Grantham said. Blithering Ass. Two Words: Absentee Landlord. If the person in charge just collects rent from some far away place most don't care what happens as long as money keeps rolling in. Whether its a priest-bureaucrat of Old Kingdom Egypt, a apparatchik of the Soviet Politburo, or an MBA like Grantham it is all the same. Capitalism as bupkis to do with it, Moron. |
| Posted by: magpie 2018-06-17 12:47 |
| #4 Ever see the trash and ruin left over from failed socialist countries Jeremy? |
| Posted by: Procopius2k 2018-06-17 11:15 |
| #3 An opposing view of capitalism--Jordan Peterson For most who come to the Burg, this will present nothing new. The info, however, is presented by Peterson in a parsimonius and succinct way. |
| Posted by: JohnQC 2018-06-17 09:53 |
| #2 CNBC usually just has two headlines: 1- "Market soars despite Trump" and 2- "Market drops because of Trump". |
| Posted by: Matt 2018-06-17 09:22 |
| #1 This negligence is due in large part to how short-sighted From the BoD down to Pension Fund victims. we do it all off the balance sheet Yeah, MBAs suck but carbon credits don't pay the bills, ROI does. |
| Posted by: Skidmark 2018-06-17 09:17 |