Towards a Butterfly Economy: Reimagining Economics for Healthy Human–Nature Relationships

It is widely accepted that preserving biodiversity requires transformative change and, perhaps foremost, demands a paradigm shift in economic scholarship. The prevailing neoclassical growth-based status quo is too often detached from nature and, as a result, ill-equipped to offer insights on how to halt biodiversity loss. This perspective paper builds on the famous cowboy–spaceman economy distinction by presenting an analogy from the natural world. Proposals from post-growth schools of economic thought on how to induce metamorphosis of the growth-based caterpillar economy are described. Thereafter, an exploration is undertaken of a butterfly economy based on three propositions: embed economics in ecosystems, in systems thinking, and in human–nature relationships. Herein, examples are provided of nature-literate economics, policy implications are discussed, and an actionable research agenda is outlined. The perspective closes by drawing on discussions from conservation sciences to inspire the design of an economic framework conducive to healthy human–nature relationships.