What kind of capitalist?

Adapted from a comment on: Vulture Capitalism'? How Private Equity Firms Work

We don't see much (or any) reporting in the mainstream media about systemic flaws in our economic system.

A failure of public policy makes harmful practices profitable for industry.

If putting pollution or taking natural resources causes harm to others (either because air and water quality is decreased or because resources are made unavailable to others) then it makes sense to charge a fee to those who cause the harm.

In a democratic society, fees would be set high enough so that most people would agree that the rates of taking of resources and rates of putting pollution are within acceptable limits.

This is a systemic flaw (to allow these side-effects of economic activity to go uncompensated) because it means that prices give false information about true costs. We do things that cause pollution and other kinds of environmental degradation *more* than what we would do if these environmental impacts were reflected in prices.

Resolving this systemic defect through a fee on pollution or on the taking of natural resources would mean that efforts by corporations to reduce costs and increase profits would include efforts to reduce environmental harm. Rather than a conflict between what is good for the corporation and what is good for the larger society, there would be a coincidence. No more pathological trade-off between what is good for the corporation vs. what is good for society. Rather than seeking profit at the expense of the social good and healthy planet, we would have profit-seeking in accord with the social good and environmental health.

If proceeds from environmental impact fees are shared equally among all the world's people, no one would live in abject poverty. The economic hardship that comes with loss of a job would be less severe, since work income would be only part of a person's total income. All people would be more able to seek and hold jobs that offer them a sense of meaning and purpose, since the economic security that comes from an equal sharing of natural resource wealth would allow people more freedom to decline jobs or work fewer hours at jobs that do not contribute this sense of purpose.

Natural Law Requires Respect of Public Property Rights, Too

Systemic Flaws are Not Reported