Capitalism is the most sustainable economy the world has seen
Ikerd, 22’,(John, Ikerd, John E. Ikerd is a professor emeritus of agricultural economics at University of Missouri, He is also the author of ‘Sustainable Capitalism’, University of Missouri, ‘Sustainable Capitalism: Our Best Hope for the Future,’2022 /LM)
However, no other economic system has been found that can rival its efficiency and productivity in decisions and activities that are legitimately private, personal, or individual in nature. Societies that have tried communism, socialism, and religious theocracies have never been able to meet the physical and material needs of their people. They are ultimately rejected by their people because they are not economically sustainable. Most individual economic decisions do not deprive anyone of their basic social rights or violate any moral imperative. These decisions legitimately belong in the individual, private economy, where there is no logical alternative to capitalism. Capitalism, with all of its inherent risks, is still humanity’s best hope for sustainability. Fortunately, sustainable capitalism does not require some radical, new-age value system; it only requires that we return to the foundational principles of classical capitalism and grass-roots democracy. We already have the necessary political and institutional structures in place to create a sustainable economy. We have the means of ensuring the renewal and regeneration of ecological and social capital needed to sustain the development of economic capital because we have a constitution that could be amended to ensure the rights of all people, including both current and future generations, to a healthy and productive natural environment.