Creative capital turns flows into stocks; extractive capital turns stocks into flows. The turning of flows into stocks we call savings and investment; the turning of stocks into flows we call consumption, cashing out, and disinvestment.
Extraction is the simple act of raiding the stock of natural capital (which keeps the eco-system in proper running order) and turning it into income for those who were able to get their hands on those natural stocks. Extraction is analogous to rent, which also turns the ownership of stocks into the flows of income.
Altogether, the practices of extraction, be they slavery or wastage or rentiership, are the practices of anti-capitalism, of breaking down extant, and, by all rights, sustainable, stocks to transform them into temporary, and, by implication, non-sustainable flows.
No comments:
Post a Comment