Beyond Market Value: Ecological Economics in Amitav Ghosh’s Ghost-Eye

Abstract

This article studies Amitav Ghosh’s Ghost Eye from the viewpoint of ecological economics by using the lens of non-market valuation to explore several forms of value that are embedded in the novel. The main concern depicted is the contrast between the two families, the Guptas and the Mondals, showcasing the financial security enjoyed by the Guptas and the practical ecological knowledge of the economically disadvantaged Mondals. It further examines the contrast depicted in the Gariahat fish market, where money functions as a powerful asset but cannot provide an unlimited supply of scarce ecological goods. The impact of the tiger-prawn aquaculture further highlights how economic growth can create both benefits and disadvantages for some groups. Ghost-Eye, therefore, does not completely reject markets; rather, it challenges the belief that prices can fully reflect the value of people, resources, and nature. Seasonal knowledge, sacred attachment, local experience, and relationships across species possess meanings that monetary calculation cannot fully capture. The text also exposes how wealth and political influence allow some groups to profit from development while shifting its ecological costs onto poorer communities. In bringing these conflicting values together, Ghost-Eye supports ecological boundaries and acknowledges inequalities in purchasing power.