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Rebecca Henderson Considers How Capitalism Destabilizes
Riley von Niessen — November 13, 2020 — Keynote Trends
References: youtube
Rebecca Henderson, an American economist and a professor at Harvard Business School, delivered a talk on climate change for TED.
She states that capitalism has largely led to the destruction of the earth, which if left unchecked, will continue to do harm to the planet and all of its inhabitants. Although Henderson supports "genuinely free and fair markets," she states that they only "work their magic when prices reflect real costs." She goes on to explain that currently, prices are not fairly reflected—and firms that sell fossil fuels and otherwise emit greenhouse gases do not have to pay for the harm that they cause.
Throughout her talk, Henderson considers the need for these companies to pay for the degradation of the climate in order for change to take place. She says that fixing these problems is in the best interest of the private sector, and that businesses have the resources available to them to make an impact.
She states that capitalism has largely led to the destruction of the earth, which if left unchecked, will continue to do harm to the planet and all of its inhabitants. Although Henderson supports "genuinely free and fair markets," she states that they only "work their magic when prices reflect real costs." She goes on to explain that currently, prices are not fairly reflected—and firms that sell fossil fuels and otherwise emit greenhouse gases do not have to pay for the harm that they cause.
Throughout her talk, Henderson considers the need for these companies to pay for the degradation of the climate in order for change to take place. She says that fixing these problems is in the best interest of the private sector, and that businesses have the resources available to them to make an impact.
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