The Cultures of Markets
The Political Economy of Climate Governance
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Product details:
- Publisher OUP Oxford
- Date of Publication 19 May 2016
- ISBN 9780198718451
- Binding Hardback
- No. of pages344 pages
- Size 241x161x24 mm
- Weight 644 g
- Language English 0
Categories
Short description:
Climate change is one of the biggest challenges of the 21st century. Countries around the globe are developing emissions markets as a response to it. This book examines the cultures of these markets, arguing policy makers must include more flexibility in climate policy to allow emissions markets to be translated and transferred across regions
MoreLong description:
Anthropogenic climate change poses a grave threat to societies around the world. The greenhouse gases that generate climate change are produced by virtually every sector of every economy. The predominant response of governments around the world is to mitigate climate change through the capping and trading of emissions.
This book explores the establishment of emissions trading as a form of environmental, market-based governance in the United States, Europe, Australia, South Korea, Japan, and China. The book conceptualizes markets as institutions, and analyzes them as a system of climate governance. To this end, it argues that international efforts to promulgate markets run up against local cultures of markets that shape economic practices and knowledge to different degrees. While the global agenda under the United Nations Framework Convention on Climate Change has sought to develop similar systems to enable interconnected and synchronized emissions reductions, each of the cases analyzed here has produced different results.
The markets and climate policies established reflect the syncretic impact of socio-political and cultural context on the institutional transfer of markets. Each country expresses a varying degree of ease or unease with the establishment of markets as systems of climate governance. Exploration of market adaptation adds new insights to theories of varieties of capitalism. The book also examines the material implications of emissions markets on the environment and climatic systems.
In sum, the study finds that cultures of markets present a substantial challenge to a universalist prescription for resolving climate change and highlights issues at the interface of political and economic governance in different political economies. This includes issues of citizen, state, and industry participation, and the materiality of economic and financial productivity.
How can humanity best tackle climate change? Knox-Hayes's nuanced examination of how emissions markets developed in the US, Europe, East Asia and Australia is a vital contribution to a crucial debate.
Table of Contents:
Part I: The Political Economy of Climate Governance
Introduction: Climate Governance
Climate Change Governance: Institutions, Values and the Culture of Markets
Universal Norms Versus Local Practice: Cross-National Comparison of Market Meaning-Making
Part II: Global Adaptations of Emissions Markets
Europe and the United States: Market Coordination through Contrasting Discourses of Security, Leadership, and Economic Opportunity
Australia and South Korea: Technocratic Governance at the Interface of Politics and International Aspiration
Japan and China: Cultural Norms Mediated through Crisis and Environmental Context
Part III: The Cultures Of Markets
The Cultures of Markets: Interplay Between Economic and Political Governance
The Fate of Markets: Materiality and the Construction of Values
Conclusion: The Path towards Environmental Finance and Sustainable Valuation
Appendix. List of Interview Subjects
