Biodiversity as a Commodity
What is the nature of biodiversity as an economic commodity and why does it matter? How would its conservation contribute economically to our well being? I consider three issues: - Why is biodiversity important from an economic perspective? - hat kind of commodity is it? - oes our usual economic mechanism, the market system, have the capacity to appreciate the economic value of biodiversity? I first characterize biodiversity from an economic perspective, and then consider the capacity of our main economic institutions to realize the value of biodiversity and ensure that it is treated in a way commensurate with its importance.
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