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Capitalizing on Nature

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  • Barbier,Edward B.

Abstract

The basic unit of nature – the ecosystem – is a special form of wealth, which we can think of as a stock of natural capital. However, perhaps because this capital is free, we have tended to view it as limitless, abundant and always available for our use, exploitation and conversion. Capitalizing on Nature shows how modeling ecosystems as natural capital can help us to analyze the economic behavior that has led to the overuse of so much ecological wealth. It explains how this concept of ecosystem as natural capital sheds light on a number of important issues, including landscape conversion, ecological restoration, ecosystem resilience and collapse, spatial benefits and payments for ecosystem services. The book concludes by focusing on major policy challenges that need to be overcome in order to avert the worsening problem of ecological scarcity and how we can fund novel financing mechanisms for global conservation.

Suggested Citation

  • Barbier,Edward B., 2011. "Capitalizing on Nature," Cambridge Books, Cambridge University Press, number 9780521189279.
  • Handle: RePEc:cup:cbooks:9780521189279
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    Cited by:

    1. Ian Bateman & Amii Harwood & David Abson & Barnaby Andrews & Andrew Crowe & Steve Dugdale & Carlo Fezzi & Jo Foden & David Hadley & Roy Haines-Young & Mark Hulme & Andreas Kontoleon & Paul Munday & Un, 2014. "Economic Analysis for the UK National Ecosystem Assessment: Synthesis and Scenario Valuation of Changes in Ecosystem Services," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 57(2), pages 273-297, February.
    2. Eli P. Fenichel & Joshua K. Abbott, 2014. "Natural Capital: From Metaphor to Measurement," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 1(1), pages 1-27.
    3. Christie, Michael & Colombo, Sergio & Hanley, Nicholas, 2011. "What are the consequences of ignoring attributes in choice experiments? An application to ecosystem service values," Stirling Economics Discussion Papers 2011-20, University of Stirling, Division of Economics.
    4. Hanley, Nick & Breeze, Tom D. & Ellis, Ciaran & Goulson, David, 2015. "Measuring the economic value of pollination services: Principles, evidence and knowledge gaps," Ecosystem Services, Elsevier, vol. 14(C), pages 124-132.
    5. Nkonya, Ephraim & von Braun, Joachim & Mirzabaev, Alisher & Le, Quang Bao & Kwon, Ho Young & Kirui, Oliver K., 2013. "Economics of Land Degradation Initiative: Methods and Approach for Global and National Assessments," Discussion Papers 158663, University of Bonn, Center for Development Research (ZEF).
    6. Matthias Blum & Eoin McLaughlin & Nick Hanley, 2014. "Accounting for Sustainable Development over the Long-Run:Lessons from Germany," Discussion Papers in Environment and Development Economics 2014-10, University of St. Andrews, School of Geography and Sustainable Development.
    7. Yun, Seong Do & Hutniczak, Barbara & Fenichel, Eli P. & Abbott, Joshua K., 2016. "The Wealth of Ecosystems:Valuing Natural Capital in the Context of Ecosystem Based Management," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235737, Agricultural and Applied Economics Association.
    8. repec:oup:oxford:v:35:y:2019:i:1:p:120-137. is not listed on IDEAS

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