Final answer:
Capitalism does indeed require a constant expansion of commodity production, which can lead to both overproduction crises and has adverse effects such as environmental damage and exacerbating inequality. Alternatives like degrowth or sustainable development are proposed to address these issues.
Step-by-step explanation:
Capitalism is indeed an economic system that requires a constant expansion of commodity production. This expansion is not inherently good for the public, as what benefits major corporations does not always translate to public welfare. The increase in commodity consumption is fueled by capitalism's need to continually produce and sell goods in industrialized societies. This drive for expansion can lead to over-production, which then results in situations where there is too much product and not enough consumption, ultimately leading to economic crises like the overproduction crisis.
In addition, this capitalist system has significant adverse effects on the environment and society. The process of manufacturing and distributing goods across the globe relies on the exploitation of natural resources and often contributes to greenhouse gas emissions, which are key factors in climate change. Furthermore, the push for continuous growth can exacerbate inequalities and poverty, as the focus remains on profit over equitable distribution of wealth and resources.
There are scholars who propose that these issues can be addressed through either degrowth, which entails a deliberate downsizing of production to alleviate environmental strain, or through sustainable development, whereby economic growth is paired with environmental stewardship. These approaches aim to mitigate the negative consequences associated with capitalism, creating a more balanced economic system that accounts for both human welfare and environmental sustainability.