Markets and Society
Pre-publication Draft of "Unregulated Markets and the Transformation of Society" Chapter 18, Routledge Handbook of Ecological Economics: Nature and Society. Editor Clive Spash. 2016
10 Pages Posted: 22 Sep 2015 Last revised: 23 Jul 2016
Date Written: September 17, 2015
In face of the strong conflict between market norms and social norms, peaceful co-existence is impossible. In traditional societies, markets were subordinated to society. Modern society emerged via a number of revolutions which made society subordinate to markets. This led to a reversal of traditional values of social cooperation and harmony with nature. Instead, men, nature, society became objects to be exploited for creating profits. A market society generates profits by exploiting men and nature, and requires increasing profits to sustain itself. This process has run into its limits as planetary resources are being destroyed on a scale large enough to threaten the planet. Saving the planet requires reversing the transition to modernity by subordinating markets to society. This is a difficult task.
Keywords: Environmental Economics, Exploitation, The Great Transformation, Market Society,
JEL Classification: B2, Q5
Suggested Citation: Suggested Citation