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The way in which any topic is analysed in economics depends on methodological approach. The purpose here is to explore the argument that the way in which climate change is addressed depends on how economics is understood to relate to the physical environment and also to the social and ethical environment. This involves an exploration of the formation of knowledge, both in economics and in the economy. Alfred Marshall’s evolutionary approach to knowledge formation was central to his approach to economics and to his understanding of economic behaviour. Here, we consider the application of Marshall’s approach to issues around climate change, through the lens of the subsequent development of evolutionary economics and ecological economics.

Alfred Marshall, Evolutionary Economics and Climate Change Fourth Annual Tiziano Raffaelli Lecture, STOREP Conference, Rome, October 2020