Capitalism Quote by Denis Hayes
“Under communism, prices were not allowed to reflect economic reality. Under capitalism, prices don't reflect ecological reality. In the long run, the capitalist flaw -- if uncorrected -- may prove to be the more catastrophic.”
About This Quote
Source Speech: Interview on environmental economics, 1990s
Economic systems often ignore true costs, leading to hidden damage; capitalism may cause ecological crises if unchecked.
In simple terms: Systems ignore true costs, causing hidden damage.
Key Takeaway
Recognize and internalize environmental costs.
Themes
economics
environment
capitalism
ecology
risk
Mood
concerned
urgent
Type
analytical
warning
When to use this quote
- policy making
- business strategy
- investment decisions
- environmental advocacy
Key Concepts
externalities
sustainability
systemic risk
long-term planning
Questions to Reflect On
- How can we redesign markets to reflect ecological costs?
- What policies can prevent ecological catastrophe?
A Different Perspective
Market prices alone cannot capture ecological impacts.
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