Read the text- Balser, E (2008) 'Capital Accumulation, Sustainability & Hamilton Ontario'. Write a 500 word critical summary of the text which explicitly adresses the following questions:
-How is sustainability defined in the text?
In Balser's article, sustainability is described as a response to our environmental crisis. It is defined as 'the inter- and intra- generational equity in the social, environmental, economic, moral and political spheres of society', which means the current and future generations ownership/responsibility of the world. It is supposed to be a communal concept, but due to cost and technology, this is not available to everyone, and poor places suffer because of this
-What are the main characteristics or tendencies of Capitalism?
-Capitalism is always looking to commodify things (a good for which there is demand).
-Constantly expanding
-Diverse web, traps thing creating crisis's.
-Define a 'crisis of Capitalism'. Offer an example.
A crisis of capitalism shows 'a passage which is a turning point in every systematic cycle of accumulation'. An example of a capitalism crisis is the BIOX plant in Ontario, which is a plant for bio-diesel 'clean' fuel which is a good thing the problem is its expensive, not only can't poorer people buy it but its afftecting the poor people that live in its area in a health and safety aspect aswell. Its built on a community green, opposite residential homes.
-What solutions have been offered to the sustainability question? Are these successful or realistic?-If not why are they flawed?
-reinvention of sustainability
-not about salvation of nature
-prolonging human life
Businesses need to:
-radically increase productivity of resource use
-biology inspired production
-no waste/ toxicity
-services rather than making and selling
-reinvest in natural + human capital
-Is the concept of sustainability compatible with capitalism?
I'm not sure if they could ever be completely compatible with each other. I think they will try but in the end both want different things (same things/ different outcomes). Capitalism wants money, sustainability wants to preserve the planet.
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