Today, it has become a truism that capital circulates, that data, populations and materials flow, that money offers liquidity. These terms appear crucial for any description of our contemporary situation, whether in economics, media studies, or contemporary art. This book asks whether the preponderance of talk of flow, liquidity, and circulation is an expression of the cultural logic of today’s environmental capitalism.

History is increasingly presented as a series of catastrophes. The most common mode of this presentation is the before-and-after image—a juxtaposition of two photographs of the same place, at different times, before and after an event has taken its toll. Buildings seen intact in a “before” photograph have been destroyed in the one “after.” Neighborhoods bustling with activity in one image are in ruins or under a layer of foulwater in the next. Deforestations, contaminations, melting icebergs and drying rivers...