Green Capital: A New Perspective on Growth

Hardcover | October 13, 2015

byChristian de Perthuis, Pierre-André JouvetTranslated byMichael Westlake

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Many believe economic growth is incompatible with ecological preservation. Green Capital challenges this argument by shifting our focus away from the scarcity of raw materials and toward the deterioration of the great natural regulatory functions (such as the climate system, the water cycle, and biodiversity).

Although we can find substitutes for scarce natural resources, we cannot replace a natural regulatory system, which is incredibly complex. It is therefore critical that we introduce a new price into the economy that measures the costs of damage to these regulatory functions. This change in perspective justifies such innovations as the carbon tax, which addresses not the scarcity of carbon but the inability of the atmosphere to absorb large amounts of carbon without upsetting the climate system. Brokering a sustainable peace between ecology and the economy, Green Capital describes a range of valuation schemes and their contribution to the goals of green capitalism, proposing a new approach to natural resources that benefits both businesses and the environment.

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From the Publisher

Many believe economic growth is incompatible with ecological preservation. Green Capital challenges this argument by shifting our focus away from the scarcity of raw materials and toward the deterioration of the great natural regulatory functions (such as the climate system, the water cycle, and biodiversity). Although we can find sub...

Christian De Perthuis is a professor of economics at University Paris-Dauphine and head of the climate economics department. He is the author of several books, including Economic Choices in a Warming World. As chairman of the Green Tax Committee, he designed the carbon tax that was introduced by the French government in January 2014.P...

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Format:HardcoverDimensions:288 pages, 9 × 6 × 0.98 inPublished:October 13, 2015Publisher:Columbia University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0231171404

ISBN - 13:9780231171403

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Table of Contents

Introduction: The Color of Growth1. Growth: A Historical Accident?2. The Spaceship Problem: An Optimal Population Size?3. Degrowth: Good Questions, Bad Answers4. Introducing the Environment into the Calculation of Wealth5. "Natural Capital" Revisited6. Hotelling: Beyond the Wall of Scarcity7. Nature Has No Price: How Then Is the Cost of Its Degradation to Be Measured?8. Beyond Hotelling: Natural Capital as a Factor Required for Growth9. Water, the Shepherd, and the Owner: A Choice of Green Growth Models10. How Much Is Your Genome Worth?11. The Enhancement of Biodiversity: Managing Access, Pricing Usage12. Climate Change: The Challenges of Carbon Pricing13. International Climate Negotiations14. The "Energy Transition": Not Enough or Too Much Oil and Gas?15. The Inescapable Question of the Price of Energy16. Nuclear Energy: A Rising-Cost Technology17. Growth-Generating Innovations18. Planning or the Market: What Are the Catalysts?19. European Strategy: Jump Out of the Warm Water!Conclusion: Green Capital, Green Capitalism?NotesIndex

Editorial Reviews

By systematically destroying the natural foundations of our economic and social development, we deprive ourselves of the chance for sustainable growth. Is there a way out? The answers that Christian de Perthuis and Pierre-André Jouvet provide are a model of realism, characterizing in operational terms the radical shifts required to escape the trap we are in.