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The 'market' metaphor and climate change: an epistemological application in the study of green economics

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  • Valentin Cojanu

Abstract

The paper proposes a critical discussion of the 'market' mindset that is centred on epistemological concerns relative to its increasing application to matters which predominantly involve moral choices. The issue of climate change is explicitly defined in terms of ethical responsibility to future generations and becomes a natural candidate to discuss the analytical relevance of incorporating the 'market' paradigm into the study of green economics. This investigation gathers factual data based on the search for market solutions in the economics of climate change. The main argument is developed along the representations of the 'market' metaphor in its perfect (market-clearing) and imperfect (market-failure) variants. Both theoretical arguments and observational data seem to offer convincing support to the view that the 'market' mindset plays a controversial role in devising feasible policy recommendations. If climate change can be seen as a global public good, expectations are that the voluntary initiatives to mitigate global warming are to be accompanied by the selfish pursuit of people's own material interest, with the remaining combinations between empathy and self-interest in between.

Suggested Citation

  • Valentin Cojanu, 2008. "The 'market' metaphor and climate change: an epistemological application in the study of green economics," International Journal of Green Economics, Inderscience Enterprises Ltd, vol. 2(3), pages 284-294.
    • Handle: RePEc:ids:ijgrec:v:2:y:2008:i:3:p:284-294
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    Citations

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    Cited by:

    1. Brigitte Nerlich, 2012. "‘Low carbon’ metals, markets and metaphors: the creation of economic expectations about climate change mitigation," Climatic Change, Springer, vol. 110(1), pages 31-51, January.
    2. Maurie Cohen, 2011. "Is the UK preparing for “war”? Military metaphors, personal carbon allowances, and consumption rationing in historical perspective," Climatic Change, Springer, vol. 104(2), pages 199-222, January.
    3. Shaw, Christopher & Nerlich, Brigitte, 2015. "Metaphor as a mechanism of global climate change governance: A study of international policies, 1992–2012," Ecological Economics, Elsevier, vol. 109(C), pages 34-40.

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