Coining one currency for nature

Joe Millard

No j7phu, OSF Preprints from Center for Open Science

Abstract: Collective humanity is at a critical juncture. Despite our efforts to set targets and goals, biodiversity and climate are both changing rapidly, pushing us towards a biosphere our species has not known. One view is that we need transformational change of the economic paradigm, but that might be more an ideal than pragmatic. A new idea could be that we take inspiration from the way in which life has evolved, and co-opt some mechanism to self-regulate us within a boundary we at least know is not definitely unsafe. Think genes that up or down regulate themselves or switch off and on other genes, or hormones that up or down regulate the secretion of other hormones. For humanity, one means might be to co-opt the philosophy of the carbon coin, and devise a new single currency for nature. We track a conjunction of anthropogenic variables from space or remotely, combine that with a model predicting biodiversity change, and then link that to a new global currency that will help self-regulate those variables towards bending the curve. It would be hard, and there’s a lot we’d need to know to make it work, but I think this might be what life would do

Date: 2023-06-28
New Economics Papers: this item is included in nep-env and nep-hme
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:j7phu

DOI: 10.31219/osf.io/j7phu

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