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The Global North has historically been responsible for the majority of greenhouse gas emissions through its reliance on carbon-intensive mass production and consumption. However, research has not empirically examined the relationship between economic growth and CO2 emissions in these countries before 1960. We seek to add to the economic growth/environment literature by assessing the temporal relationship between economic growth and CO2 emissions from 1870 to 2014 using a sample of Global North nations. Using insights from regulation theory, world-systems theory, Marxist political economy, and the growth machine literature, we find that economic growth’s relationship to CO2 emissions is contingent upon the mode of development, mediated through the structure of the world economy, its dominant growth coalitions, and the primary energy sources consumed. Overall, we find a relative decoupling took place during pre-Fordism and flexible accumulation, whereas the relationship remained constant during Fordism. We conclude by arguing that that the economic growth/CO2 emissions relationship must be viewed as historically and spatially situated, and each mode of development has its own “carbon regime,” which describes its relation to the carbon cycle.