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Ecological Modernisation and The Global Economy - 1
Ecological Modernisation and The Global Economy - 1
Political Modernisation:
Arthur Mol suggests that political modernisation, influenced by the Multilateral Environmental
Agreement (MEA), can help tame global capitalism by promoting environmental protection.
MEAs aim to establish a common law and policy principle, leading to universal
environmental law and policy. Mol also suggests that regional institutions like the European
Union (EU) should prioritise environmental protection for economic integration, paving the
way for global governance on environmental issues. Additionally, supra-national institutions
like the European Commission, European Parliament, and European Court of Justice can
effectively counter environmental degradation where member states or transnational
companies are directly involved.
Criticism:
While Mol argues that ecological modernisation theory brings the environment back into the
fold of social theory, Buttel critiques ecological modernisation theory as not well-developed
social theory as it is shaped by broader political and economic factors. He criticises
ecological modernisation for its Eurocentric perspective, excessive emphasis on
non-renewal sectors, and focus on efficiency and pollution control, neglecting environmental
impact.
Conclusion:
Ecological modernisation assumes that institutions are malleable and industrial capitalism
has the technological capabilities to bring about eco-efficiencies‖ or improved sustainable
development. It was a response to the radical environmental movement that has developed
in Europe and it gave autonomy of ecological perspective and the emergence of ecological
rationality as the basis of production and consumption. In other words, it means the growing
institutionalisation of ecological rationality in the domain of economics.