A Copernican Moment: Engaging Economics with Geoethics

Abstract

This chapter proposes a geocentric turn in economics that aims at radically transforming the performative functions of economics in contemporary capitalism: Inspired by an expression of John Stuart Mill, I outline the idea of the Earth as a ‘community of advantage’. The argument proceeds in two steps. The first is to switch from an anthropocentric to a geocentric conceptualization of the purpose of economic activity: The economy does not primarily serve human consumption but is a central element in Earth system regulation. This reflects the rise of the techno-sphere as a new regulatory layer in Earth system processes. The second is to combine the economic concept of externality with the creation of non-human rights which are represented in legal persons that are owned by non-human entities. This metamorphosis of rights is grounded in the fundamental norms of Rights of Earth. Non-humans are owners of legal persons which are managed by humans as stewards. As a result, the economy and the legal system morph to including both human and non-human interests in their operations. This implies that the performative functions of economics, after the geocentric turn, would also incorporate the geosciences and the life sciences. In the Earth as a community of advantage, geoethics would achieve a human scale, in the sense of realistic moral demands and commitments.