Earlier quoted context omitted.
1. I wouldn't say that capitalism, at its core is a government construct. 2.capitalism is about valuing things to allow / encourage efficient allocation. There is a cost to pumping co2 into the atmosphere. Capitalism doesn't take that into account. And as that is what it should be doing, failing to do so is a failure of capitalism. Now the government could (and should) step in to fix that failure. Their failure to st…
I don't know what you mean by construct, but capitalism is an economic system that is regulated and enabled by the government because in order to own private property either you have to defend it yourself or you have the government set rules and act as the enforcement mechanism. Capitalism is one type of economic system that operates with the blessing of the government but there are others. Soviet Russia is an exampl…
Well you could argue that one means nothing without the other. But anyway, what bearing does private ownership have this context? I accept I used loose words but in this context the relevant part of capitalism is its pricing mechanism. So no I'm not confusing the 2.
If I buy a piece of a company, or land or whatever the government has no hand in deciding that value. Sure government policy could impact the value but if the government didn't have anything to do with it, it would have value, if the government is deciding the value it probably isn't capitalism (yes i know there are counter examples in 'capitalist' societies) .
What is the market value of not releasing a kg of co2? Yes people will pay to have trees planted, but who's going to pay Amazon to electrify its fleet to not emit co2? A kg of not co2 is worthless under capitalism, which isn't reflective of its value. That is a failure of capitalism. The fact that we are discussing having the govt step in to correct that failure doesn't negate the failure. A carbon tax (note taxes aren't inherent to capitalism) or carbon trading scheme will be synthetic govt constructs. Sure they harness capitalism and capitalistic mechanisms to work, but capitalism can't/hasn't got there on its own.