A World to Win with Grace Blakeley cover image

Turning the Earth into Money w/ John Bellamy Foster

A World to Win with Grace Blakeley

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The Divide Between the Use Value of Nature and the Exchange Value of Nature

There's a notion of natural capital anda the earth's capital stock. When capitalism came into being, particularly industrial capitalism, there were radical thinkers who saw it as destructive towards nature. As late as 19 73, a e. F. Schumacher was saying, we have to defend the natural capital in his great ecological work. But then that got turned around so that am natural capital was no longer defined with use values, but it was defined in terms of exchange values. And then it just became a justification for the financialization of the earth, that is turning the entire environment into money.

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