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The Wealth Of Nature: Valuing Ecosystem Services

Author

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  • A. Myrick Freeman III

    (William D. Shipman Professor of Economics Emeritus, Bowdoin College)

Abstract

In May, 2009, the U. S. Environmental Protection Agency (EPA) released a report titled "Valuing the Protection of Ecological Systems and Services" (U.S. EPA, 2009). I was a member of the EPA Science Advisory Board's Committee on Valuing the Protection of Ecological Systems and Services (C-VPESS) that produced the Report. In this paper, I will try to clarify what we mean by the terms "ecosystem services," "value," and "the wealth of nature." I will also try to see what lessons can be drawn from the C-VPESS Report and the 5 years of Committee deliberations that lie behind it and what conclusions and implications this work has for EEPSEA researchers working in the field of the economics of natural resources.

Suggested Citation

  • A. Myrick Freeman III, 2010. "The Wealth Of Nature: Valuing Ecosystem Services," EEPSEA Special and Technical Paper sp201007s2, Economy and Environment Program for Southeast Asia (EEPSEA), revised Jul 2010.
    • Handle: RePEc:eep:tpaper:sp201007s2
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    Keywords

    ecosystem;

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