New podcast episode! Trading Irresponsibility: Turning Environmental Policies into Gambling Casinos – with Frederic Hache

This week, Economics for Rebels host Alexandra Köves speaks to Frederic Hache about nature markets and how they turn environmental policies into gambling casinos:

“When we say, ‘Money cannot buy conscience,’ in today’s economy, we could not be further from the truth. Our current economy can turn absolutely anything into financial assets. Even irresponsible behaviour. A company that is incapable of reducing its carbon emission can just buy carbon credits and continue business-as-usual. Another that is about to ruin a habitat can offset its wrongdoing by paying money to someone else to save another habitat somewhere else. While these solutions may make bad behaviour slightly more costly, they do not stop them. Moreover, they contribute significantly to neocolonialism. Today’s guest, Frederic Hache explains us how these nature markets work and how they turn environmental policies into gambling casinos.”