Abstract:

Markets must be made "biophilic" (i.e., compatible with life flourishing on Earth). To do so we must abandon prevailing notions of market efficiency and reconceive markets as social evolutionary systems embedded in nature. Such a re-conception enables us to see that constraining markets within biophysical boundaries does not result in zero-sum trade-offs with the economy, but instead would drive market evolution to new forms of prosperity.

Citation:

Beinhocker. E.D. (2022). 'Biophilic Markets'. INET Oxford Working Paper No. 2022-12. Submitted to Daedalus special issue “Creating a New Moral Political Economy"
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