The Green Economy
Is "Internalizing Externalities" Really a Way Forward?

"Let's internalize the externalities" has become an important slogan of the new "green economy". Its logic is evident in the Kyoto Protocol, the UK's plans for a "net zero" economy, countless regulatory projects advised by environmental economists, and even in financial markets' efforts to commodify radical uncertainty.

But is this a solution for the environmental and social problems thrown up by capital accumulation, or a perpetual motion machine that functions merely to create more problems and business opportunities? A presentation delivered at the Institute for Social Studies in The Hague (available from The Corner House upon request) argues otherwise.