Video: An Economist Explains How Money Has Caused the Climate Crisis

Typically, we solve problems by expanding the economy. When it comes to the environment, that will only make things worse.

In this video, Juliet Schor, professor of sociology at Boston College, explains what she sees as a "structural crisis" within the United States.

Our economy, says Schor, is failing for two reasons. First, our current economic system generates dangerous levels of greenhouse gases. Second, the income gap between the richest and poorest Americans continues to rise, forcing more and more families into poverty.

“The reason I say it’s a systemic crisis or a structural crisis is that typically, the solution to that economic problem is to expand the economy,” Schor says. “But that makes the climate problem much worse because emissions move pretty closely with economic activity.”

Her solution? Find ways to change our economic system to be more financial and environmentally sustainable.