Terri Friedline — Want a Green New Deal? Then Challenge Global Capitalism

Capitalism is an economic system that favor capital (ownership) over labor (people) and land (the environment) because capital formulation generates growth and "a rising tide lifts all boats" (trickle down).

Socialism is an economic system that favors labor (people) and land (the environment) over capital (ownership) because the economic system is the life-support system of society and needs to be subjected to the comprehensive needs of society, which are social and political in addition to economic. 

In addition, contemporary "capitalism" is economically inefficient owing to socialization of negative externality and rent extraction facilitated by asymmetries. These asymmetries are social (class structure privilege the ownership class that results in social unrest), political (wealth translates into political power resulting in oligarchy), and economic (income and wealth inequality that result in maldistribution masquerading as "just deserts."

The time has come to reset the balance.

The American Prospect
Want a Green New Deal? Then Challenge Global Capitalism

Terri Friedline

See also

Power to the people. And no, corporations are not people not matter what SOCTUS pronounces.

Fast Company
The Green New Deal is a people-first approach to solving climate change

Eillie Anzilotti

John Quiggin — Thinking the unthinkable

On the failure of privatization of public services. It's documented. But the myth continues to transfer public funds to private coffers with less to show for it. Neoliberal rent-seeking.

John Quiggin
Thinking the unthinkable