"Since effective altruism is committed to whatever would maximise the social good, it might for example turn out to support anti-capitalist revolution." (Srinivasan 2015)
In this peer-reviewed article for Moral Philosophy and Politics, I explore this suggestion. This connects with my EA forum piece 'Why not socialism?' but is more thorough and more focused on longtermism in particular.
ABSTRACT: Capitalism is defined as the economic structure in which decisions over production are largely made by or on behalf of individuals in virtue of their private property ownership, subject to the incentives and constraints of market competition. In this paper, I will argue that considerations of long-term welfare, such as those developed by Greaves and MacAskill (2021), support anticapitalism in a weak sense (reducing the extent to which the economy is capitalistic) and perhaps support anticapitalism in a stronger sense (establishing an alternative economic structure in which capitalism is not predominant). I hope to encourage longtermists to give anticapitalism serious consideration, and to encourage anticapitalists to pursue criticisms of capitalism’s efficiency as well as its injustices.
I skimmed in your article and must say that I am impressed. I think it is important for the EA community to think about what planet and what society we want. I looked at the summary of the IPBES Nexus Assesment and it seems clear to me that our economic system doesn't work in its current state. That 7 trillion in subsidies for the fossil fuel industry, and damages on nature for 10-25 trillion in unaccounted costs is problematic. Also, the fact that there is 35 times more resources going to causes that destroys our planet than supports our nature shows that we need to do something. I think a realistic way might be national income, by Thomas Piketty. It is a global measurement instead of GDP. For example: “If you take 100 billion euros of oil from oil reserves underground or you take 100 billion euros in fish from the ocean, you have 100 billion euros of GDP, but you have zero euros of national income. And if in addition when you burn oil or gas you create global warming and you reduce the durability of life on earth, then if you put a price on the negative impact of these emissions you should have negative national income instead of positive GDP.” Buckton et al. (2024) give examples of other economic systems that might work and that are more or less capitalistic.