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Eco-capitalism

Eco-capitalism, also known as environmental capitalism or (sometimes[1]) green capitalism, is the view that capital exists in nature as "natural capital" (ecosystems that have ecological yield) on which all wealth depends. Therefore, governments should use market-based policy-instruments (such as a carbon tax) to resolve environmental problems.[2][3][4]

For sustainable businesses, see Sustainable business.

The term "Blue Greens" is often applied to those who espouse eco-capitalism. Eco-capitalism can be thought of as the right-wing equivalent to Red Greens.[5]


Critics of eco-capitalism, such as eco-socialists, view continued economic growth and commodification of nature as an inevitability in capitalism, and thus criticize bright-green environmentalism.[6][7][8][9]

History[edit]

The roots of eco-capitalism can be traced back to the late 1960s. The "Tragedy of the Commons", an essay published in 1968 in Science by Garrett Hardin, claimed the inevitability of malthusian catastrophe due to liberal or democratic government's policies to leave family size matters to the family, and enabling the welfare state to willingly care for potential human overpopulation.[10] Hardin argued that if families were given freedom of choice in the matter, but were removed from a welfare state, parents choosing to overbear would not have the resources to provide for their "litter", thus solving the problem of overpopulation. This represents an early argument made from an eco-capitalist standpoint: overpopulation would technically be solved by a free market. John Baden, a collaborator with Garrett Hardin on other works including Managing the Commons, founded the Political Economy Research Center (now called the Property and Environment Research Center) in 1982. As one of the first eco-capitalist organizations created, PERC's ongoing mission is "improving environmental quality through property rights and markets".[11] The most popular eco-capitalist idea was emissions trading, or more commonly, cap and trade.[12] Emissions trading, a market-based approach that allows polluting entities to purchase or be allocated permits, began being researched in the late 1960s. International emissions trading was significantly popularized in the 1990s when the United Nations adopted the Kyoto Protocol in 1997.[13]

a graduate of the University of Montana who received his Ph.D. from Washington University,[14] and who serves as the co-chair of the Hoover Institution's Property Rights, Freedom and Prosperity task force, has advocated that free markets can be both economically beneficial and environmentally protective. Anderson specializes in how markets impact Native American communities and their economies. Anderson is a co-author of Free Market Environmentalism, a book that explores how free market ideas could be used to solve environmental issues, based on Anderson's conclusion on a few case studies.[15]

Terry L. Anderson

a graduate of Mercer University, attended Georgia State University where he earned an MBA and PhD.[16] Yandle is the dean emeritus of Clemson University's college of business. He is prominent in the field of eco-capitalism for his story of the "Bootlegger and the Baptist". Yandle's theory of the Bootlegger and the Baptist posits that ethical groups, religious institutions and business captains can align their organizations in the interest of regulation and economic growth.[17]

Bruce Yandle

is the architect of the United States first natural foods company, Erewhon Trading Company, where all products were organically composed. Hawken founded the research organization, Natural Capital Institute, and developed Wiser Earth, a program focused on providing a platform for all to communicate about the environment. Hawken has authored hundreds of publications, including four best selling books.[18] In his writings, Hawken stresses that many viable ecological options exist for businesses that will benefit the environment, while simultaneously bringing about economic profit. One idea discussed in his book, Natural Capitalism: Creating the Next Industrial Revolution, is the possibility of developing lightweight, electricity-powered cars as an alternative to current transportation modes. Hawken attributes the hesitancy of adopting these options to lack of knowledge of these alternatives and high initial costs.[19] Hawken is now the head of OneSun, Inc., an energy corporation concentrated on low-cost solar.[18]

Paul Hawken

began his career as a tomato farmer in New Jersey, before earning a degree at Rutgers University and traveling to a rural India for a six-month study of the country's food and population crisis. Brown has primarily focused on finding alternatives which he contends would provide solutions to the world's population and resources problem. With financial support from Rockefeller Brothers Fund, Brown created the Worldwatch Institute, the first dedicated to researching global environmental problems. In 2001, Brown founded the Earth Policy Institute, an organization that outlines a vision for creating an environmentally sustainable economy. Brown has authored over 50 books and received 25 honorary degrees.[20] In his publications, Brown posits that the key to an eco-friendly economy is an honest market. He advocates for replacing harmful aspects of the environment, like fossil fuels, with renewable energy.[21] In June 2015, Brown retired from Earth Policy and closed the institute.[20]

Lester Brown

Chapple, Stephen (2001) Confessions of an Eco-Redneck: Or how I Learned to Gut-Shoot Trout and Save the Wilderness at the Same Time. Perseus Publishing.  0-641-54292-5

ISBN

Comolet, A. (1991) "Le Renouveau ecologique. De l'eco-utopie a l'eco-capitalisme" [The Ecological Renewal. From Eco-Utopia to Eco-Capitalism], Futuribles, 157(Sept.), 41–54.

(2016). "An A-Z of Green Capitalism". Corporate Watch, London.

Corporate Watch

d'Humières, Patrick (2010) Le développement durable va-t-il tuer le capitalisme? Editions Maxima

& Hunter Lovins (1997) Factor Four. Doubling Wealth - Halving Resource Use, with Ernst von Weizacker. Earthscan Publications Ltd, London

Lovins, Amory B

Pons Rullan, Bartolome (2015) Ecoliberalismo. ¡Hay alternativas al Capitalismo! Ed. Verbum  978-84-9074-266-2

ISBN

(1999) Eco-Socialism Or Eco-Capitalism? A Critical Analysis of Humanity's Fundamental Choices

Sarkar, Saral

(2005, revised 2007) Capitalism: As if the World Matters. Earthscan Publications Ltd, London. ISBN 978-1-84407-193-7

Porritt, Jonathon