The Role of Prices in Conserving Critical Natural Capital

摘要: Until recent decades, economic decision makers have largely ignored the nonmarket benefits provided by nature, resulting in unprecedented threats to ecological life-support functions. The challenge today is decide how much ecosystem structure can be converted production and must conserved provide essential services. Many economists a growing number of life scientists hope address this estimating marginal value environmental then using information make decisions. I assessed approach first examining role effectiveness price mechanism well-functioning market economy, second identifying issues that prevent markets from pricing many benefits, third focusing on problems inherent valuing services generated complex poorly understood ecosystems subject irreversible change. focus critical natural capital (CNC), which generates are human welfare few if any substitutes. When imminent thresholds threaten CNC, conservation valuation becomes inappropriate. Once needs been met, remaining potentially available for production. Demand supply will determine prices. In other words, should determining, not determined. Conservation science help identify CNC quantity quality required ensure its sustained provision.