Daniel Hannan perhaps said it best, “Don’t make the mistake of judging socialism as a textbook theory, but judging capitalism by its necessary imperfect outcomes. Judge like with like.” Capitalism is far from perfect, but when you look at it compared to the alternatives that have been tried it wins hands down. Moreover, the capacity of capitalism to do all of those bad things mentioned to the environment is countered by all of the good things that properly managing your resources that capitalism actually encourages.
The Industrial Revolution was driven by capitalism and profit seeking motives, and while it did a lot of bad, let’s not kid ourselves, we as a species are much better off because of it. People are living longer and healthier lives as a result of efficiencies that have been extracted out of a profit seeking motive.
Moreover, it is capitalism not socialism, and certainly not communism, that is best equipped to tackle the socioeconomic issues that we as a society and species face.
Capitalism is an amoral economic system. Unlike socialism or communism, it is merely a tool, how it is used depends on the input and values of consumers and producers. It’s in harnessing their interest and putting it to effective means that we have been able to achieve much more than the other economic systems that have been tried.