Environmental Literature | Social Justice | Sustainable Futures
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Economy – Ryan Bronstein

January 27th, 2017 | Posted by Ryan Bronstein in Uncategorized

The economy in its most used sense is far too specific. In the United States, perhaps due to the concurrent financialization of its institutions, the term “economy” is primarily associated with the market. By market, I mean the exchange of what Robert Costanza calls “built” capital, referring to human artifacts that have become a part of our daily consumption. Nevertheless, the economy is so much more than that.  It surrounds our society like an atmosphere, and much like Earth’s atmosphere, we are contributing to its pollution. In discussing economics, far too frequently are non-monetary based forms of capital disregarded. These forms include natural, social, and human capital, and include the most basic needs of life such as oxygen.  However, if these forms of capital are so important, why are they not being treated as such?

There are a lot of possible answers to this question, however it is most important to understand why it must be asked in the first place. These forms of non-built capital are not being protected.  As Costanza explains, an economy is meant to run on a sustainable scale, distribute resources fairly, and allocate resources efficiently so as to maintain asset values. Yet, as the values of our water and air degrade from pollution, it is foreign exchange rates and interest rates that receive the most protection on a given day.  The market has come to epitomize the economy, and as long as it does, the economy cannot efficiently perform its intended, more ecological role.

 

Works Cited

Adamson, Joni; Gleason, William A.; Pellow, David N.. Keywords for Environmental Studies. New York: NYU Press, 2016. Ebook Library. Web. 27 Jan. 2017.

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