The Economics Of Life And Death :: Economic Theory

The Economics Of Life And Death This paper begins with an explanation of the "life sequence of value," which is defined by the formula Life->Means of Life->More Life (L->MofL->L1). The analysis then contrasts this general sequence of value to the "money sequence of value," which is shown to have three autonomous forms not before distinguished: (1) Money->Means of Life->More Money ($->MofL->$1); (2) Money->Means of Life Destruction->More Money ($->MofD->$1); (3) Money->More Money->More Money ($->$1->$2->$3->$n). I explain how the first money sequence of value, analyzed by Marx in his classical formula of industrial capital (M->C->M1), has mutated so that the standard sequence of (1) assumed by economists has, in fact, been increasingly displaced by sequences (2) and (3). The argument shows that these sequences of economic "growth" increasingly dismantle environmental and civil life-fabrics, but remain unproblematic to the dominant economic paradigm whose measures of value do not register life-losses in their value a ccounts. It is concluded that a regrounding of economic understanding in the life sequence of value is required to avoid a cumulative breakdown in the conditions of social and planetary existence. "The techniques which induce a paradigm change may well be described as therapeutic, if only because, when they succeed, one learns one had been sick before." - Thomas Kuhn (1) The life sequence of value can be formulated in simple axiom as the sequence: Life --> Means of Life --> More Life ( L--> MofL -->L1) In this formula, life refers specifically to sentient life. Sentient life, in turn, is life which can move, feel and - in the case of humans - think in concepts. These three planes of being - organic movement, sensation and thought - all admit of ranges of function. These ranges of function or capability can be reduced by their economic conditions (as with the vital capabilities of a malnourished child), or increased (as with the opening horizons of movement, felt being and cognition of the same child with access to nutritious food). (2) Means of life refer to whatever enables life to be preserved, or to extend its vital range on these planes of being alive. Clean air, food, water, shelter, affective interaction, environmental space and accessible learning conditions are such "means of life". To reproduce life is to maintain its achieved ranges of capability. To increase life is to widen or deepen them to more comprehensive range. To reduce life is to diminish or to extinguish any vector of their vital domains of being.