From Predator to Parasite: On Private Property and Our Ecological Disaster

Jenica M. Kramer

Journal of Economic Issues, 2021, vol. 55, issue 2, 416-422

Abstract: The institution of private property forms the basis for ecological disaster. The profit-seeking of the vested interests, in conjunction with their modes of valuing nature through the apparatuses of neoclassical economics and neoliberalism proceed to degrade and destroy life on Earth. I assert that the radical, or original institutional economics (OIE) of Thorstein Veblen, further advanced by William Dugger, have crucial insights to offer the interdisciplinary fields of political ecology and ecological economics which seek to address the underlying causes and emergent complications of the unfolding, interconnected, social, and ecological crises that define our age. This inquiry will attempt to address what appears to be either overlooked or under-explored in these research communities. Namely, that the usurpation of society’s surplus production, or, the accumulation of capital, is a parasite that sustains itself not only through the exploitation of human labor, but by exploiting society and nature more broadly, resulting in the deterioration of life itself. I shall argue that the transformation of the obvious predator that pursues power through pecuniary gain into a parasite, undetected by its host, is realized in its most rapacious form in the global hegemonic system of neoliberal capitalism.

Date: 2021
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DOI: 10.1080/00213624.2021.1908804

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