A Socio-Ecological Revolution in Monetary Theory: An Argument for, the Development of, and an Application of Ecological Monetary Theory

Money is the most ubiquitous institution on the planet. It gave rise to literacy, mathematics, sedentary community, and the concept of universal value. Against this backdrop, however, hardly anyone understands what money is. Orthodox monetary theory conceives of money as a neutral commodity that facilitates barter. Presupposing this theory is a dualistic and atomistic ontology in which reality is organized into hierarchically ordered opposites of superiority and inferiority and complex interactions are reduced to summations of their attendant parts. Accordingly, monetary policy is enacted as though money were any other commodity, subject to the barter dynamics of supply and demand. In this manner, the vast majority of money in modern economies is created by commercial banks in pursuit of profit maximization. An interdisciplinary literature conceives of money as a social relation of credits and debts denominated in a unit of account. Such an approach complicates and undermines the assumptions of economic theory and allows for a more effective approach to the problems attendant to modern money. This dissertation draws upon this literature to develop an Ecological Monetary Theory (EMT) that is simultaneously rooted in a social understanding of money, and an ontology of embeddedness. The first chapter draws upon ecofeminist theory to explore the ontological presuppositions of neoclassical economic theory and the monetary theory it informs. It argues that the dualism and atomism central to Western philosophy manifest as the misleading conceptualization that money is a commodity that facilitates barter. It then explores an interdisciplinary literature to argue that barter has never existed as an economic mode and money’s nature lies rather in the unit of account. It then argues that ecological economics must develop a theory of money of its own in order to avoid importing the dualistic ontology at the heart of orthodox monetary theory. The second chapter develops an ecological monetary theory. It does this by using an interdisciplinary literature to answer three closely-related questions: What is money? How does money get its value? How does money get into society? It then develops an ontology of embededdness by exploring the ontological presuppositions of ecological economics and ecofeminism. Then it develops a two-tiered theory in which money’s abstract social nature is mediated against its tangible biophysical claim through this ontology of embeddedness in order to address the contradiction at the heart of both social and material conceptions of money. The third chapter uses ecological monetary theory to test the desirability of a public banking proposal. In such a proposal, the prerogative of money creation is taken from the commercial banking sector and given solely to the State. This returns seigniorage to the public and allows the government to create money for social and ecological purpose, destroying money through taxation in order to maintain the money’s value. This chapter determines that, given certain parameters, public banking is a desirable alternative to the current monetary system

Operationalizing Embeddedness for Sustainability in Local and Regional Food Systems

Agricultural systems are deeply embedded in social processes and the institutions that govern them. Measuring these processes and understanding the extent of that embeddedness is critical to crafting policy for sustainable agricultural systems. The bulk of measurement in sustainability research, however, focuses on economic and environmental indicators such as farm profitability and water quality. Since policy is most often aimed at what is measured, it tends to focus on issues like price, production, and market access. And while those are important, policies aimed at social issues such as community reciprocity are often outside the scope of policy design. The gap between social measurement and policy is not for lack of care; the importance of social dynamics is well known. Yet due to the difficulty of measuring complex social systems— How does one measure values?—more straightforward economic and environmental measures dominate research and policy. When social systems are measured, as, for example, with the social capital or sustainable livelihoods frameworks, they often do so using economic methodologies and indicators. Such economic-based social indicators are important but focus heavily on outcomes such as poverty or profitability. Accordingly, the complex social processes that lead to such outcomes such as culture, heritage, tradition or generational dynamics are often overlooked. These policy and methodological difficulties present a problem: measurements import the theoretical framing of their intellectual development. Economic methodologies are largely rooted in an atomistic theory of human behavior in which individuals are selfishly motivated by economic gains. While individuals do seek economic success, they are also motivated by social connection, reciprocity, values, and culture. The institutions governing these social processes and the degree to which individuals and businesses are embedded in society are incredibly important, yet poorly understood and measured. This paper outlines a theoretical framing for understanding these complex social processes and develops a methodology for measuring social embeddedness in local and regional agricultural systems. Coined by sociologist Karl Polanyi, embeddedness is the extent to which economic systems like markets are governed by non-economic systems such as culture and social cohesion. While markets and their price and output components are well understood and widely measured, the non-economic institutions like culture and values that support and govern markets have tended to be seen as non-measurable. This has important policy implications for rural agriculture. Accordingly, this paper develops a tool for measuring the social embeddedness of producers and consumers in ten agricultural sectors in Vermont that can be replicated across New England. The tool uses a Likert scale survey designed to understand the degree to which producers and consumers are motivated by self-interest—what we call Instrumentalism—and the extent to which they are market-oriented—what we call Marketness. Survey responses are analyzed using a Factor Analysis to generate Instrumentalism and Marketness scores for each survey respondent on a scale of -1 to 1. The Embeddedness Type Matrix consists of a vertical Instrumentalism axis and a horizontal Marketness axis that together create four quadrants that represent different types of embeddedness: embedded, underembedded, disembedded, and overembedded. Individual consumers and producers are plotted on the matrix based upon their respective Instrumentalism and Marketness scores and yield an embeddedness type given their quadrant. Plotting all producers and consumers of a particular industry on the Embeddedness Type Matrix provides an understanding of the motivations, values, actions, and interactions of the individuals in that industry. This paper provides researchers and policy makers in Vermont and New England with a tool to understand and measure the social aspect of agricultural sustainability in multiple industries. This approach allows for the design of policy aimed at aspects of the food system outside of price, production, and market access alone

Pluralistic Valuation of Codling Moth Regulation by Brown Long-Eared Bats in English Apple Orchards

The benefits humans utilise from the ecological interactions of the Brown Long-eared bat (Plecotus auritus) have gone relatively unnoticed in the UK. This study aimed to expose one such interaction through a pluralistic valuation of Codling moth (Cydia pomonella) regulation by P. auritus in the context of English apple orchards. A stage-structured model linking C. pomonella population dynamics through consumption by P. auritus was created to understand crop loss reduction estimates due to this predation. The model found that the presence of a single P. auritus individual resulted in a significant reduction of 81.06–83.68% crop lost per hectare. The results of the avoided costs methods yielded a range of economic estimates with between GBP 307.59 and 604.95/ha private, ecological and social costs being avoided. Traditional biodiverse apple orchards that support P. auritus habitats are at risk from land development and agricultural intensification which would have serious consequences on biodiversity. The findings of this study could form the basis of further research that informs apple orchard managers, local communities dependent on apple production and policymakers of the importance of ecosystem services in sustainable agriculture

Dreidimensionale Observierung atmosphärischer Prozesse in Städten – 3DOSchlussbericht des Verbundvorhabens 3DOThree-dimensional observation and modeling of atmospheric processes in cities – 3DOfinal report for joint project 3DO

Ziel des BMBF-Programms 'Stadtklima im Wandel' war die Entwicklung, Validierung und Anwendung eines gebäudeauflösenden Stadtklimamodells für ganze Städte. Das Verbundprojekt 3DO übernahm die dem Modul B zugeordneten Forschungsaufgaben: Aufbereitung vorhandener Daten aus der Langzeitbeobachtung (LTO), Aufbau neuer Messstationen, Gewinnung neuer dreidimensionaler atmosphärischer Daten und die Entwicklung neuer Konzepte z.B. zur Modellevaluation. Untersucht wurden der Aufbau der atmosphärischen Grenzschicht, die Charakteristik der meteorologischen Parameter und deren Einfluss auf das thermische Empfinden des Menschen. Ein einheitlicher [UC]2-Datenstandard sowie Analysewerkzeuge wurden entwickelt und in ein Datenmanagementsystem und eine Wissensplattform für den modulübergreifenden Austausch integriert.Aim of the BMBF-Programme 'Urban Climate under Change' was development, validation and application of a building-resolving urban climate model for entire cities. The joint project 3DO took over the research tasks assigned to module B: Preparation of existing data from long-term observation (LTO), deployment of new measuring stations, acquisition of new three-dimensional atmospheric data and new concepts, e.g. for model evaluation. The structure of the atmospheric boundary layer, characteristics of meteorological parameters and their influence on the thermal sensation of humans were investigated. A uniform [UC]2 data standard as well as analysis tools were developed and integrated into a data management system and a knowledge base for cross-module exchange

Dreidimensionale Observierung atmosphärischer Prozesse in Städten – 3DOSchlussbericht des Verbundvorhabens 3DOThree-dimensional observation and modeling of atmospheric processes in cities – 3DOfinal report for joint project 3DO

Ziel des BMBF-Programms 'Stadtklima im Wandel' war die Entwicklung, Validierung und Anwendung eines gebäudeauflösenden Stadtklimamodells für ganze Städte. Das Verbundprojekt 3DO übernahm die dem Modul B zugeordneten Forschungsaufgaben: Aufbereitung vorhandener Daten aus der Langzeitbeobachtung (LTO), Aufbau neuer Messstationen, Gewinnung neuer dreidimensionaler atmosphärischer Daten und die Entwicklung neuer Konzepte z.B. zur Modellevaluation. Untersucht wurden der Aufbau der atmosphärischen Grenzschicht, die Charakteristik der meteorologischen Parameter und deren Einfluss auf das thermische Empfinden des Menschen. Ein einheitlicher [UC]2-Datenstandard sowie Analysewerkzeuge wurden entwickelt und in ein Datenmanagementsystem und eine Wissensplattform für den modulübergreifenden Austausch integriert.Aim of the BMBF-Programme 'Urban Climate under Change' was development, validation and application of a building-resolving urban climate model for entire cities. The joint project 3DO took over the research tasks assigned to module B: Preparation of existing data from long-term observation (LTO), deployment of new measuring stations, acquisition of new three-dimensional atmospheric data and new concepts, e.g. for model evaluation. The structure of the atmospheric boundary layer, characteristics of meteorological parameters and their influence on the thermal sensation of humans were investigated. A uniform [UC]2 data standard as well as analysis tools were developed and integrated into a data management system and a knowledge base for cross-module exchange