Recently I did an interview with Blue & Green Tomorrow and talked about how the notion of free markets misrepresent our political and economic system. Here I am republishing part of this interview here (with their questions in blue text):
Yesterday, we published the first part of an interview with EcoLabs founder Joanna Boehnert. In response to a Blue & Green Tomorrow article about free markets (Free markets need to be free), Boehnert said on Twitter that it “[failed] entirely to deal with the problem that free markets systemically devalue the ecological wellbeing“. We asked her if she thinks the free market is therefore unsalvageable, and this was her response.
I am not against all markets absolutely. What I am absolutely against is misinformation, so it is important to note here that there is actually no such thing as a free market. Every market in the world has ways of working that was designed into the market, i.e. parameters that are predetermined. So-called free markets suit the interests of those who have the political power to design the terms of the market. What we have is a political and economic system that is neoliberal and capitalist. The idea of free markets is an obfuscation. Continue reading →
While corporations are busy marketing themselves as environmentally responsible global citizens, scientists warn that global ecological systems are severely destabilized and three planetary boundaries are presently being crossed (biodiversity, climate change and the nitrogen cycle). The confusion created by the gap between frightening scientific reports and reassuring messaging from advertising and corporate media is a good enough excuse to continue shopping, TV watching and generally ignoring escalating social/ political/ economic crises (as long as you happen to be privileged enough to avoid the immediate impacts). Business as usual continues as both knowledge and reason are distorted by market forces. When markets determine what information is available in the public sphere ‘knowledge’ comes to reflect what is profitable for those with economic power. This distorted knowledge rarely takes the earth’s needs into account. While efforts are made by hopeful environmentalists and NGOs to create ecologically and socially beneficial projects and tweak the market to recognize the value of the natural processes, the overall dynamic of capitalism leads to greater ecological devastation.