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Cambridge Journal of Economics Advance Access originally published online on January 10, 2005
Cambridge Journal of Economics 2005 29(4):577-599; doi:10.1093/cje/bei017
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© The Author 2005. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

Environmental regulation: a value-theoretic and class-based analysis

Andriana Vlachou*

* Department of Economics, Athens University of Economics and Business

Address for correspondence: Andriana Vlachou, Department of Economics, Athens University of Economics and Business, 76 Patission Street, Athens 104 34, Greece; email Vlachou{at}aueb.gr.

Following a value-theoretic and class-based approach, it is argued in this paper that ecological problems are inseparably linked to the process of extracting surplus value in capitalism and, owing to their adverse impacts, instigate struggles over the appropriation of nature. These struggles fought within and outside the state by competing agents shape environmental regulation. In particular, taxes, permits, command-and-control measures, and subsidies affect prices, profits and rents and have class and other social implications. Evidence of current environmental regulation shows that it takes places under the great influence of capitalist concerns.

Key Words: Value • Class • Environmental policies • Capitalism

JEL classifications: H2, P1, Q2, Q3

Manuscript received April 2, 2001; final version received November 26, 2003.


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