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ECOSYSTEMS AND SPONTANEOUS ORDERS CRITICAL REVIEW: A JOURNAL OF POLITICS AND SOCIETY, FORTHCOMING ANDY LAMEY Professor: Paolo Fabbri Students: Mario Conti,

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Presentation on theme: "ECOSYSTEMS AND SPONTANEOUS ORDERS CRITICAL REVIEW: A JOURNAL OF POLITICS AND SOCIETY, FORTHCOMING ANDY LAMEY Professor: Paolo Fabbri Students: Mario Conti,"— Presentation transcript:

1 ECOSYSTEMS AND SPONTANEOUS ORDERS CRITICAL REVIEW: A JOURNAL OF POLITICS AND SOCIETY, FORTHCOMING ANDY LAMEY Professor: Paolo Fabbri Students: Mario Conti, Valentina Fiore, Dalila Putignano,

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3 KEY CONCEPTS  Non intervention in financial and ecological systems  Understanding the ecosystem as spontaneous order INTERFERENCE implies the operation of a process that proceeds by itself on certain principles because its parts obey certain rules. (Hayek, Law Legislation and Liberty)

4 ECOSYSTEM ECOSYSTEM is defined as “the whole system”, including the complex organisms and physical factors that forming what we call the environment. (Hayek) There is an affinity regarding our ignorance of financial and ecological systems.

5 SPONTANEOUS ORDERS SPONTANEOUS ORDER is one that no individual has designed and which aims at no particular purpose. (Hayek) Characteristics:  Inevitability  Complexity  Abstraction of components  Not created by an outside entity

6 ECOLOGICAL IGNORANCE Static ignorance related to limited awareness of the number of existing species. Dynamic ignorance about the interactions of countless different organisms. The same type of reasoning can be also applied to price

7 THE MORAL ASPECT Moral obligation not to harm human beings It must be extended to animals and non-sentient life International environmental and financial organizations: Greenpeace, WWF and IMF Sometimes the intervention is not just permitted but recommended

8 EXCEPTIONS: PERMITTED INTERVENTIONS Such manipulations of the environment (nature or market) are allowed weather they contribute to the same outcomes that a spontaneous order should reach itself. Imperfect information system is the cause of impossibility to know what will be the future outcome of spontaneous order. Ecosystem  DISRUPTIVE MANIPULATION  CORRECTIVE MANIPULATION Market  GROWN ORDER  MADE ORDER

9 INTERVENTIONS INTO ECOLOGICAL ORDER DATTEL MUSSEL  5 km of coast for year  80 years to grow  Lex 25 October 1988 GLOBAL WARMING  + 4°C in the last years  Kyoto Protocol, 1997  United Nations Climate Change Conference (UNFCCC), 1992  Intergovernmental Panel on Climate Change (IPCC), 1988

10 INTERVENTIONS INTO MARKET ORDER OIL’S PRICES  Organization of Petroleum Exporting Countries (OPEC), 1960  Oil Crisis in 1973 leads to the increase of oil’s price by 70%  Austerity policies (such as Sunday Walking) SUB-PRIME MORTGAGES  US recession ( )  Community Reinvestment Act in 1977  Promotion of affordable housing

11 CONCLUSION Human actions break the spontaneous order and then can restore it. It is a mistake to think we can take all, or most of the nature and the market under our control. When we do seek to manipulate the ecosystem or the market, as we inevitably must, we should do so in a manner that seeks as much as possible to preserve the number of species or the level of prices they contain.

12 BIBLIOGRAPHY AND WEB LINKS  Andy Lamey, A journal of politics and Society, Forthcoming  Hayek, Law Legislation and Liberty, volume I and II  Maurizio Cortese, Cose che è necessario io riesca a comprendere: i datteri di mare non si mangiano,  Subprime Mortgage,  UNFCCC and Kyoto Protocol,   

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