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Economics, Finance and Reality

Thomas Lagoarde-Ségot ()
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Thomas Lagoarde-Ségot: KEDGE BS & SDSN France

Chapter Chapter 1 in Ecological Economics and Finance, 2025, pp 3-13 from Springer

Abstract: Abstract According to the United Nations, some 4.7 million hectares of forest disappear every year. Yet these forests are only included in national accounts when the trees are cut down, i.e., when they are destroyed. Since this destruction generates monetary income, it is not counted as a loss, but as an increase in well-being (via higher GDP). Similarly, economic and management indicators treat the economic and financial system as if it were disconnected from its environment, whereas it is integrated into a fragile whole that surrounds and supports it. This whole includes society, of course, but also the Earth system (which includes the atmosphere, biosphere, hydrosphere and geosphere). So, before studying economics and finance, it may be useful to take a step back and consider the nature of our object of study. This will enable us to acquire more relevant knowledge and to act responsibly.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-71249-4_1

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DOI: 10.1007/978-3-031-71249-4_1

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