Green economics focuses on the importance of the health of the biosphere to human well-being. Consequently, most Greens distrust conventional capitalism, as it tends to emphasize economic growth while ignoring ecological health; the "full cost" of economic growth often includes damage to the biosphere, which is unacceptable according to green politics. Green economics considers such growth to be "uneconomic growth"— material increase that nonetheless lowers overall quality of life.
Some Greens refer to productivism, consumerism and scientism[citation needed] as "grey", as contrasted with "green", economic views. "Grey" implies age, concrete, and lifelessness.
Therefore, adherents to green politics advocate economic policies designed to safeguard the environment. Greens want governments to stop subsidizing companies that waste resources or pollute the natural world, subsidies that Greens refer to as "dirty subsidies". Some currents of green politics place automobile and agribusiness subsidies in this category, as they may harm human health. On the contrary, Greens look to a green tax shift that are seen to encourage both producers and consumers to make ecologically friendly choices.
Green economics is on the whole anti-globalist. According to Greens, economic globalization is considered a threat to well-being, which will replace natural environments and local cultures with a single trade economy, termed the global economic monoculture.
Since green economics emphasizes biospheric health, an issue outside the traditional left-right spectrum, different currents within green politics incorporate ideas from socialism and capitalism. Greens on the Left are often identified as Eco-socialists, who merge ecology and environmentalism with socialism and Marxism and blame the capitalist system for environmental degradation, social injustice, inequality and conflict. Eco-capitalists, on the other hand, believe that the free market system, with some modification, is capable of addressing ecological problems. This belief is documented in the business experiences of eco-capitalists in the book, The Gort Cloud that describes the gort cloud as the green community that supports eco-friendly businesses.
In Finland, in 1995, the Green League became the first European Green Party to form part of a state-level Cabinet. The German Greens followed, forming a government with the Social Democratic Party of Germany (the "Red-Green Alliance") from 1998 to 2005. In 2001, they reached an agreement to end reliance on nuclear power in Germany, and agreed to remain in coalition and support the German government of Chancellor Gerhard Schröder in the 2001 Afghan War. This put them at odds with many Greens worldwide, but demonstrated that they were capable of difficult political tradeoffs.
In Latvia, Indulis Emsis, leader of the Green Party and part of the Union of Greens and Farmers, an alliance of a Nordic agrarian party and the Green Party, was Prime Minister of Latvia for ten months in 2004, making him the first Green politician to lead a country in the history of the world. In the German state of Baden-Württenburg, the Green Party is the leader of the coalition with the Social Democrats since the Baden-Württemberg state election, 2011.