Home > Research > Publications & Outputs > Modern finance theory and practice and the Anth...

Electronic data


Text available via DOI:

View graph of relations

Modern finance theory and practice and the Anthropocene

Research output: Contribution to Journal/MagazineJournal articlepeer-review

<mark>Journal publication date</mark>30/06/2022
<mark>Journal</mark>New Political Economy
Issue number3
Number of pages14
Pages (from-to)490-503
Publication StatusPublished
Early online date30/10/21
<mark>Original language</mark>English


The Anthropocene, as a geological epoch, has come to be defined in terms of the variability within the Earth System’s operations as measured through various markers such as surface temperatures and CO2 emissions. These variations are generated by human activity, characterised by catastrophic processes and outcomes, and beyond any previous natural variability. This paper focuses on how modern finance theory and practice respond to one of the overflows that it has helped generate - namely, adverse anthropogenic effects such as climate change and soil degradation. Although modern finance theory and practice are capable of generating alternative socio-technical arrangements such as socially responsible investing and abatement markets to alleviate such adverse effects, these alternatives, for the very fact of their embeddedness in the financialised form of thermo-industrial capitalism, are prone to suffer from what some scholars describe as capitalism’s creative self-destruction.