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Institutional individualism and the pricing metric: Epistemological arguments against neoliberal policies |
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| Institution: | 1. University of Newcastle, Wallsend, NSW, Australia;2. Emory University, Emory Vaccine Center, 1462 Clifton Road, NE, Atlanta, GA 30322, USA;3. Centers for Disease Control and Prevention, 1600 Clifton Road, NE, Atlanta, GA 30029, USA;1. Key Laboratory of Cryptologic Technology and Information Security, Ministry of Education, Shandong University, Jinan 250100, China;2. Department of Computer Science and Technology, Tsinghua University, Beijing 100084, China;3. Institute for Advanced Study, Tsinghua University, Beijing 10084, China;1. Griffith School of Environment, Griffith University, Gold Coast, Queensland, 4515, Australia;2. Mathematical Institute, University of Oxford, Andrew Wiles Building, ROQ, Woodstock Road, Oxford OX2 6GG, UK |
| Abstract: | This paper aims to support arguments that Parr and Knox-Hayes developed in two recent articles published in Geoforum against neoliberal market-oriented policies in the environmental realm. We advocate for distinguishing between epistemological, ethical and political arguments in order to tackle the political economy, which the neoliberal pricing metric relies on. We suggest that North’s institutional individualism and Sen’s capabilities approach offer consistent and relevant theoretical frameworks for overcoming the failures of mainstream economics. |
| Keywords: | Pricing metric Neoliberalism Environmental valuation Institutional individualism Just price |
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