As China, India, and other industrializing giants grow, they are confronted with an inconvenient truth: They cannot rely on the conventions of capitalism as we know them today. Western industrialism has achieved miracles, promoting unprecedented levels of prosperity and raising hundreds of millions out of poverty. Yet, if allowed to proceed unencumbered, this paradigm will do irreversible harm to the planet. By necessity, a new approach to environmentally conscious development is already emerging in the East, with China leading the way. Positioning its argument against zero-growth advocates and free-market environmentalists, Greening of Capitalism charts this transformation and sketches out a framework for more sustainable capitalism. State-mandated changes in energy use (as opposed to carbon taxes), a circular flow of resources (as opposed to emissions standards), and the introduction of new financial instruments that support green growth are cornerstones of China’s framework. John A. Mathews argues that these tenets will be emulated around the world―first in India and Brazil. In light of this emerging shift, Mathews considers core debates over national security, international relations, and economic policy, ultimately addressing the question of whether these measures will be far-reaching or timely enough to prevent further damage.
Professor John Mathews is a leading scholar of the greening of capitalism and the role that China and East Asian countries play in this process. In September 2014 he and his collaborator Dr Hao tan had an article published in Nature, on the theme of renewables, energy security and China. This interest in greening of business stems from a decade and more of scholarship focused on the competitive dynamics of international business, the evolution of technologies and their strategic management, and the rise of new high technology industries, especially their creation in East Asia through strategies of technology leverage and the management of technology diffusion. His work now focuses on the emergence of the ‘green economy’ and the transition to renewable energies, and the institutional changes needed to provide industrial capitalism with genuine long-term sustainability. [more..]
An insightful review of ‘Greening of Capitalism’ has just been published in the journal Political Science by young Korean scholar Dr Sung-Young Kim.