In this video, economist Rebecca Henderson outlines how capitalism must change to solve the climate crisis.
Students will learn that energy prices do not reflect health and environmental costs.
Henderson calls on businesses to fix capitalism. She illustrates this point with an example of a garbage company that successfully improved its environmental impact, fought corruption, and helped influence positive change in the waste management sector.
Teaching Tips
Positives
This video is compelling and optimistic about solving climate change.
Rebecca Henderson simplifies complex economic concepts into easier-to-understand terms.
Additional Prerequisites
There is a short ad at the end of the video.
The transcript of the video is available in 16 languages.
Differentiation
Economics classes could use this video when learning about capitalism, free-market economies, the cost of goods, and government regulation.
In a civics course, students could discuss the role they think the government should take in reshaping capitalism to reflect true costs.
For a comprehensive look at how climate and economics interact, check out this course by ClimateScience.
Scientist Notes
There is not much science in this video resource to verify. However, Rebecca Henderson makes a compelling argument on how free and fair capitalism could be an important factor in fighting climate change. This resource is recommended for teaching.
Standards
College, Career, and Civic Life (C3) Standards
Dimension 2: Civics
D2.Civ.14.6-8 Compare historical and contemporary means of changing societies, and promoting the common good.
D2.Civ.14.9-12 Analyze historical, contemporary, and emerging means of changing societies, promoting the common good, and protecting rights.
D2.Civ.6.9-12 Critique relationships among governments, civil societies, and economic markets.
Dimension 2: Economics
D2.Eco.1.6-8 Explain how economic decisions affect the well-being of individuals, businesses, and society.
D2.Eco.2.6-8 Evaluate alternative approaches or solutions to current economic issues in terms of benefits and costs for different groups and society as a whole.
D2.Eco.1.9-12 Analyze how incentives influence choices that may result in policies with a range of costs and benefits for different groups.
D2.Eco.2.9-12 Use marginal benefits and marginal costs to construct an argument for or against an approach or solution to an economic issue.
