The New Economy Glossary

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Extractive Economy

An Extractive Economy is a capitalist system of exploitation and oppression that values consumerism, colonialism, and money over people and the planet. The extractive economy perpetuates the enclosure of wealth and power for a few through predatory financing, expropriation from land and commonly accessed goods/services, and the exploitation of human labor. An extractive economy views natural resources as commodities—expanding the free-market logic into all cycles and functions of the Earth with an oppressor mentality—which places a price on nature and creates new derivative markets that will only increase inequality and expedite the destruction of nature—to dig, burn, and dump with no regard for its impact on communities and utilizes oppressive force to undermine democracy, community, and workers. Source: A People’s Orientation to a Regenerative Economy

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