published on NRC Handelsblad 06.05.2016
This opinion article is a reaction to an earlier article by Frank Boll which brings an ode to capitalism. Although Pieter Pauw does not deny that capitalism brought rapid economic growth to many parts of the world, he explains it also has a number of shortcomings. For example, it is harder for the least developed countries to compete in a globalised market system; the inherent commodification (and privatisation) of common goods often harms the environment and the climate (which continues even after installing markets on e.g. greenhouse gas emissions); and inequality between the rich and poor increases. Pauw considers it a positive development that more and more politicians and economists have attention for the negative aspects of capitalism.