Green Capital: A New Perspective on Growth

Challenging the certainty that ecological preservation is incompatible with economic growth, Green Capital shifts the focus from the scarcity of raw materials to the deterioration of the great natural regulatory functions (such as the climate system, the water cycle, and biodiversity). While we can fi nd substitutes for scarce natural resources, we cannot replace a natural regulatory system, which is incredibly complex. It is then essential to introduce a new price into the economy that measures the costs of damage to these regulatory functions.