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Sustainability 2019, 11(3), 923; https://doi.org/10.3390/su11030923

Toward an Ecological Monetary Theory

1,2
1
Gund Institute for Environment, University of Vermont, Burlington, VT 05405, USA
2
Rubenstein School of Environment and Natural Resources, University of Vermont, Burlington, VT 05405, USA
Received: 31 December 2018 / Revised: 23 January 2019 / Accepted: 2 February 2019 / Published: 12 February 2019
(This article belongs to the Special Issue A Research Agenda for Ecological Economics)
Full-Text   |   PDF [334 KB, uploaded 12 February 2019]

Abstract

Money is the most ubiquitous institution on the planet and lays the foundation for human civilization. As such it should underlie economic theory. Due to the dualized nature of Western culture, however, mainstream economic theory assumes that money is simply a value relation to make barter efficient. This theory is manifest in orthodox monetary theory and policy. Ecological economics understands the problems attendant to modern money but has heretofore not developed a theory of money of its own. In order to make its economic theory and policy prescriptions viable, this paper argues that ecological economics must develop a theory of money that is simultaneously rooted in an understanding of money’s socio-history, and an ontological reimagining of dualized Western culture. View Full-Text
Keywords: monetary theory; ecological economics; ecofeminism; dualism; monetary policy; state theory; credit theory monetary theory; ecological economics; ecofeminism; dualism; monetary policy; state theory; credit theory
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).
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Ament, J. Toward an Ecological Monetary Theory. Sustainability 2019, 11, 923.

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