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Eric D. Beinhocker
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Publisher: Journals Gateway
Daedalus (2023) 152 (1): 94–99.
Published: 28 February 2023
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Markets must be made biophilic: that is, compatible with life flourishing on Earth. To do so, we must abandon prevailing notions of market efficiency and reconceive markets as social evolutionary systems embedded in nature. Such a reconception enables us to see that constraining markets within biophysical boundaries would not result in zero-sum trade-offs with the economy, but instead would drive market evolution to new forms of prosperity.