Economic growth and climate protection are mutually exclusive, which is why Capitalism has no future, argues business journalist Ulrike Herrmann in her new book. At the same time, she tries not to fundamentally badmouth capitalism.
How does Capitalism work? Ulrike Herrmann has been dealing with this complex question for years. In her books, she has analysed how the capitalist system came into being, what its weaknesses are and why it is prone to crises. Now Capitalism is at its end, she writes in her latest study, which has received great public attention. Herrmann argues that, firstly, capitalism cannot be reconciled with climate protection, as Capitalism not only generates growth, but must also grow in order to be stable. Secondly, without constant expansion, Capitalism collapses; but, in a finite world, you cannot grow infinitely.
Climate protection means conserving resources, but capitalist growth without permanent resource exploitation and growth is impossible. The Berlin-based TAZ-journalist thus opposes the assumption of many economists and politicians that there can be a ‘green growth’ but rather argues that renewable energy will not be sufficient for this in the foreseeable future.