LIMITS OF THE MARKETS: THE MARKETING OF NATURE, SUSTAINABILITY AND SOCIAL TRANSFORMATION
Abstract
Markets are naturally social facts which can contribute to an efficient allocation of economic resources. Nevertheless, the variables, which do not internalize the sustainability costs of their resources and their sinks of residues, show a dynamic of boundless growth. If this happens in a limited environment, and in the absence of appropriate regulations, their collapse may be brought about. On the contrary, if markets are to be instruments of social regulation, a change in their cultural parameters (i.e. a re-design of social interaction rituals) might transform them in institutions apt for a sustainable society, founded on a steady state economy and based on a regenerated environment.
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