Dissecting the Conjunction of Capitalism's Environmental, Energy, and Economic Crises: The Example of One Liberal, Market-Based Economy

Abstract

Contemporary capitalism is marked by economic, energy, and environmental crises. This article explores the interrelationships between these crises using the example of Australia, one of the world's highest per-capita carbon gas emitters. In this paper, I consider key features, impacts, and state policy responses to these three crises through the lens of Australia's institutional architecture. My finding is that the conjunction of the crises is driven by the dialectical relationship between the three spheres. I conclude that the state, by privileging policy responses to the economic crisis, is aggravating the energy and environmental crises and compounding the economic crisis.

Keywords:

• Australia
• capitalism
• economic crisis
• energy
• environment