Last week, one third of Earth’s population felt a massive, deadly heatwave with temperatures approaching 104°F (40°C) in parts of Southern China, Central Asia and Indonesia and exceeding 40°C in India, Pakistan, and in Southeast Asia a whopping 112+°F (44.6°C) for example in Thailand.
These weather events, which used to be strange anomalies, are becoming increasingly common. This is due to the ongoing climate crisis caused by the phenomenon of global warming which is a product of modern capitalist society. We have examined the capitalist basis of these heatwaves in our article on the European Heatwave last year as well as the socialist solution.
Around 3 billion people reside in the area affected, many of them will be additionally affected by other ever-worsening environmental disasters such cyclones, floods, soil degradation, desertification and rising-sea levels in the not so distant future. Continuing along the current trend this will led to tens if not hundreds of millions of climate refugees as their homelands are made increasingly unsupportive of modern human life.
Decaying capitalism is unable to control the productive forces it has unleashed and the owning capitalists would sooner see vast swaths of our planet rendered uninhabitable than to sacrifice a modicum of their profits. They see only opportunity in the wreckage of the apocalypse, and its millions of refugees as a desirable supply of cheap labor, and the resources of their abandoned homelands opened up for plundering. Only socialist ownership, a collective and democratic leadership of production, can guide the use of technology in accordance to human desire and need and rather than the law of profit.
Source:
https://www.barrons.com/articles/stocks-raising-dividends-j-j-costco-60f5d6ad