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Implementing Degrowth; Evolutionary Economic Perspectives
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pascal.vangriethuysen@graduateinstitut Pascal van Griethuysen Graduate Institute of International and Development Studies Geneva, Switzerland Implementing Degrowth : Evolutionary Economic Perspectives Second International Conference on Economic Degrowth for Ecological Sustainability and Social Equity Barcelona – 28.03.2010
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Transcript of Implementing Degrowth; Evolutionary Economic Perspectives
Pascal van Griethuysen Graduate Institute of Internationaland Development StudiesGeneva, Switzerland
Implementing Degrowth :Evolutionary Economic Perspectives
Second International Conference on Economic Degrowth for Ecological Sustainability and Social Equity
Barcelona – 28.03.2010
Outline
Issues & approach
Property & capitalist expansion
Eco-social repercussions & Degrowth
Implementing Degrowth
Obstacles
Conclusions
Conceptualisaing Degrowth
ISSUES & APPROACH
understanding degrowth
understanding growth
multiple dimensions & temporalities(eco-biophysical, sociocultural, institutional & monetary levels)
integrative & differentiated approach
evolutionary economic perspective
property as constitutive institution of capitalism
Capitalist Economy
PROPERTY INSTITUTION
property titles (material & immaterial yields)
credit relation & money creation
capitalisation & self-expansion
Monetary capitalisationCREDIT RELATION
Creditor Debtor
financing(money creation)
payback+ interest
limited time
solvability
profitability
time pressure
Property Economy
Condition :
CAPITALIST SELF EXPANSION
Propertymaterial & immaterial assets
Financed activities
moneycreation
circular & cumulative property self-expansion
monetaryreturn
monetaryreturn
monetary value of engaged property
END : property value = monetary growth
MEANS ?
physical growth ( spatial expansion, biotic resources overexploitation, industrialisation, mineral resources depletion )
commercial strategies ( lay-off, delocalisation, marketing, advertising )
institutional strategies ( commoditisation, enclosure, market creation; selective deregulation & liberalisation )
profit driven innovations ( technical, commercial, financial & institutional )
property capitalisation & concentration ( acquisitions & fusions )
Property expansion
ECO-SOCIAL CONSEQUENCES
resources depletion & surexploitation
ecological degradation
widening inequities (exclusion, power concentration)
eco-social vicious dynamics
The Degrowth transformation
A HIERARCHY INVERSION
property expansion
eco-social considerations subordinated to
economic capitalist rationality
Economic rationality
sustainable development
economic activities subordinated to eco-social
considerations
Eco-social rationale
Implementing Degrowth
GENERAL APPROACH
subordinate property expansion to eco-social considerations
multiple dimensions & temporalities
integrated strategy & articulated policies
Implementing Degrowth
INTEGRATED MULTI-LEVEL STRATEGY
PropertyFinanced activities
moneycreation
monetaryreturn
scoping
property
confining expansion
regulatingcapitalisation
orientinginvestments
allocating
returns
Implementing Degrowth
SCOPING PROPERTY
legislation & conditional exclusiveness (eco-social obligations, exclusiveness limited in scope & time)
excluding domains from exclusiveness( world level to avoid dumping )
alternative ownership arrangements( individual, common and state property/possession )
alternative partnerships and networks(individual/private, common/collective and state combination)
Implementing Degrowth
REGULATING CAPITALISATION
regulation of 1st order capitalisation( credits, stock-option creation )
sound banking’s 3 pillars( debtor’s solvency, debtor’s collateral, creditor’s reserve )
ban of 2nd order capitalisation ?( derivatives, securitization & leveraging )
Implementing Degrowth
ORIENTING INVESTMENTS
criteria for responsible investment
responsible management of mineral resources
sustainable use of biotic resources
locally anchored activities
technological diversity promotion
Implementing Degrowth
ALLOCATING RETURNS
wealth created trough self-organised capitalisation & oriented investments
institutional & fiscal modalities for equitable distribution
intra- & inter-generational levels
Implementing Degrowth
CONFINING PROPERTY EXPANSION
sustainable development corridor
eco-social norms & standards(ecological maxima & social minima)
eco-social multi-level monitoring
adaptable, evolutionary norms
Degrowth transition
MAIN OBSTACLES
vested interests
power relations
property economy’s specific path
propertyexpansion
institutional framework
influence
reinforcement
INSTITUTIONAL LOCK IN
Property expansion path
capitalist ever more compatible institutional arrangements
CLIMATE REGIME
capitalist initial compatibility (UNFCCC)
marginal environmental objective (Kyoto)
capitalist compatible arrangements (market
creation, resources’ enclosure & commoditisation, capitalisation)
alternatives’ eviction (contraction/convergence)
governance lock-in (Copenhagen)
Capitalist institutional arrangements
property-based capitalist rationality & growth
eco-social repercussions : need for transition
degrowth & eco-social rationale
integrated strategy of articulated policies
multi-level institutional regime
capitalist path dependency & lock-in
Conclusion
