Earlier quoted context omitted.
No, capitalism is not about routing around inefficiencies. Me not eating meat might make it cheaper, but people don’t buy based on price alone. Similarly, if the EU won’t buy Russian oil, it does incentivizes more reliance on green energy on the long run and that will be a net decrease in oil consumption for the world. Especially that the EU is a big financial power, and in combination with carbon taxes it could indi…
> No, capitalism is not about routing around inefficiencies that is the observable impact though. perhaps the bitcoin example is more straightforward - if only one person on the entire planet is willing to mine, they get the entire block rewards of the entire network. this is an extreme example, but if you have a small number of corporations who don't give a shit about environmentalism and pursue maximum profit withi…
When enough people change their behavior, that can have an effect. And I suppose you're right that that effect is smaller than what one would hope (for the reasons you mentioned), and laws or taxes would have more effect