Modern finance theory and practice and the Anthropocene

Tarim, Emre (2021) Modern finance theory and practice and the Anthropocene. New Political Economy. ISSN 1356-3467 (In Press)

[img]
Text (Modern finance theory and practice and the Anthropocene)
ModernFinanceAnthropoceneAcceptedVersion.docx - Accepted Version
Available under License Creative Commons Attribution-NoDerivs.

Download (108kB)

Abstract

The Anthropocene, as a geological epoch, has come to be defined in terms of the variability within the Earth System’s operations as measured through various markers such as surface temperatures and CO2 emissions. These variations are generated by human activity, characterised by catastrophic processes and outcomes, and beyond any previous natural variability. This paper focuses on how modern finance theory and practice respond to one of the overflows that it has helped generate - namely, adverse anthropogenic effects such as climate change and soil degradation. Although modern finance theory and practice are capable of generating alternative socio-technical arrangements such as socially responsible investing and abatement markets to alleviate such adverse effects, these alternatives, for the very fact of their embeddedness in the financialised form of thermo-industrial capitalism, are prone to suffer from what some scholars describe as capitalism’s creative self-destruction.

Item Type:
Journal Article
Journal or Publication Title:
New Political Economy
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/3300/3305
Subjects:
ID Code:
161134
Deposited By:
Deposited On:
18 Oct 2021 09:35
Refereed?:
Yes
Published?:
In Press
Last Modified:
03 Dec 2021 09:30