ABSTRACT

So far, the connection between industry and living systems has largely been ignored. The Wall Street Journal doesn’t have a column devoted to the latest news about natural capital, because natural capital has been for the most part irrelevant to business planning. The exclusion of natural capital from balance sheets has been an understandable omission. There was so much of it available that it didn’t seem worth taking into account. Throughout the Industrial Revolution, manufactured capital — money, factories, machinery — was the principal factor in industrial production, and natural capital was considered only a marginal input, one that rarely affected the economy save for during periods of war or famine, when scarcity could become a critical issue.