“We have now reached a point in the twenty-first century in which the externalities of this irrational system, such as the costs of war, the depletion of natural resources, the waste of human lives, and the disruption of the planetary environment, now far exceed any future economic benefits that capitalism offers to society as a whole. The accumulation of capital and the amassing of wealth are increasingly occurring at the expense of an irrevocable rift in the social and environmental conditions governing human life on earth.”

—  John Bellamy Foster

Capitalism Has Failed—What Next?, 2019

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "We have now reached a point in the twenty-first century in which the externalities of this irrational system, such as t…" by John Bellamy Foster?
John Bellamy Foster photo
John Bellamy Foster15
Sociology professor and Marxist writer 1953

Related quotes

John Maynard Keynes photo

“The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.”

John Maynard Keynes book The Economic Consequences of the Peace

Source: The Economic Consequences of the Peace (1919), Chapter II, Section III, p. 19

Richard D. Wolff photo

“The third reason capitalism gets blame here is that alternative systems—those not driven by a profit-first logic—could manage viruses better. While not profitable to produce and stockpile everything needed for a viral pandemic, it is efficient. The wealth already lost in this pandemic far exceeds the cost to have produced and stockpiled the tests and ventilators, the lack of which is contributing so much to today's disaster. Capitalism often pursues profit at the expense of more urgent social needs and values. In this, capitalism is grossly inefficient. This pandemic is now bringing that truth home to people.”

Richard D. Wolff (1942) American economist

COVID-19 and the Failures of Capitalism (2020)

“We are in an emergency situation in the Anthropocene epoch in which the disruption of the Earth system, particularly the climate, is threatening the planet as a place of human habitation. However, our political-economic system, capitalism, is geared primarily to the accumulation of capital, which prevents us from addressing this enormous challenge and accelerates the destruction. answer to the dire ecological problems we face, because when looking at the human effect on the planet there is nothing gradual about it; it is a Great Acceleration and a rift in the Earth system. The problem is rising exponentially, while worsening even faster than that would suggest, because we are in the process of crossing all sorts critical thresholds and facing a bewildering number of tipping points.”

John Bellamy Foster (1953) Sociology professor and Marxist writer

Interview with Left Voice (2017)

Thomas Piketty photo

“When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based.”

Thomas Piketty book Capital in the Twenty-First Century

Source: Capital in the Twenty-First Century (2013), p. 1.

Robert Costanza photo

“Real economic efficiency implies including all resources that affect sustainable human well-being in the allocation system, not just marketed goods and services. Our current market allocation system excludes most non-marketed natural and social capital assets and services that are critical contributors to human well-being. The current economic model ignores this and therefore does not achieve real economic efficiency. A new, sustainable ecological economic model would measure and include the contributions of natural and social capital and could better approximate real economic efficiency.”

Robert Costanza (1950) American economist

Source: Toward a New Sustainable Economy, 2008, p. 46

George Monbiot photo

“Economic growth is the aggregate effect of the quest to accumulate capital and extract profit. Capitalism collapses without growth, yet perpetual growth on a finite planet leads inexorably to environmental calamity.”

George Monbiot (1963) English writer and political activist

"Dare to declare capitalism dead – before it takes us all down with it" https://www.theguardian.com/commentisfree/2019/apr/25/capitalism-economic-system-survival-earth, The Guardian, 25 April 2019.

Paul Krugman photo

“Piketty ends Capital in the Twenty-First Century with a call to arms — a call, in particular, for wealth taxes, global if possible, to restrain the growing power of inherited wealth. It’s easy to be cynical about the prospects for anything of the kind. But surely Piketty’s masterly diagnosis of where we are and where we’re heading makes such a thing considerably more likely. So Capital in the Twenty-First Century is an extremely important book on all fronts. Piketty has transformed our economic discourse; we’ll never talk about wealth and inequality the same way we used to.”

Paul Krugman (1953) American economist

"Why We’re in a New Gilded Age", The New York Review of Books (May 8, 2014)
The New York Review of Books articles

Ludwig von Mises photo

“A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.”

Ludwig von Mises book Human Action

1963 edition, p. 680
Human Action (1949)

Aldous Huxley photo

“We may not appreciate the fact; but a fact nevertheless it remains: we are living in a Golden Age, the most gilded Golden Age of human history — not only of past history, but of future history. For, as Sir Charles Darwin and many others before him have pointed out, we are living like drunken sailors, like the irresponsible heirs of a millionaire uncle. At an ever accelerating rate we are now squandering the capital of metallic ores and fossil fuels accumulated in the earth’s crust during hundreds of millions of years. How long can this spending spree go on? Estimates vary. But all are agreed that within a few centuries or at most a few millennia, Man will have run through his capital and will be compelled to live, for the remaining nine thousand nine hundred and seventy or eighty centuries of his career as Homo sapiens, strictly on income. Sir Charles is of the opinion that Man will successfully make the transition from rich ores to poor ores and even sea water, from coal, oil, uranium and thorium to solar energy and alcohol derived from plants. About as much energy as is now available can be derived from the new sources — but with a far greater expense in man hours, a much larger capital investment in machinery. And the same holds true of the raw materials on which industrial civilization depends. By doing a great deal more work than they are doing now, men will contrive to extract the diluted dregs of the planet’s metallic wealth or will fabricate non-metallic substitutes for the elements they have completely used up. In such an event, some human beings will still live fairly well, but not in the style to which we, the squanderers of planetary capital, are accustomed.”

Aldous Huxley (1894–1963) English writer

"Tomorrow and Tomorrow and Tomorrow" in Adonis and the Alphabet (1956); later in Collected Essays (1959), p. 293

“Capitalism imposes its laws of motion on the environment, irrespective of the biogeochemical cycles of the planet and the earth’s metabolism, so that it creates rifts or ruptures in the biogeochemical cycles of the Earth system, disrupting ecosystem relations in ways that transcend the mere scale-effects of economic growth. It is this problem of the metabolic rift that is our deepest challenge. Sustainability is more and more compromised at ever higher levels—a continually accelerating threat to civilization and life itself.”

John Bellamy Foster (1953) Sociology professor and Marxist writer

Interview with Left Voice (2017)

Related topics