Capitalism doesn’t have to be an economic system that devours raw materials with massive waste. An advocate of a variant termed “Natural Capitalism” contends it can deliver greater prosperity through increased efficiency and careful stewardship of natural and human resources.

Hunter Lovins argues that human productivity could learn a lot from Nature, which is powered almost exclusively by the sun, and leaves no waste that isn’t fuel for some other natural process.

Modern day free marketers often invoke Adam Smith and his “invisible hand” as the guiding principle behind the policies they advocate, including globalism and free trade. But Lovins counters that doing so is a distorted misreading of what Smith actually said.

Reducing or greatly eliminating the enormous amount of waste that is built into our economy is not enough, but itself, to ensure long-term prosperity. But Lovins says it would be a good start.