For better or worse, nature and ecosystems have been discussed in the ongoing dialogue/debate about the environment and anthropogenic climate change in economic terms. A new article by Eli Fenichel and Joshua Abbott explores this topic with more nuance than is common in the regular discourse.
“The researchers show the importance of valuing natural resources as a capital asset that stores wealth for the long term (Emphasis Added) rather than simply as commodities that are bought and sold in the day-to-day by developing a formula that combines economic with biophysical measurements and quantifies the feedbacks between nature and human behavior.” – Kevin Dennehy
To read more of Dennehy’s piece, visit Phys.Org. And, to read Fenichel and Abbott’s original article, find yourself a copy of the Journal of the Association of Environmental and Resource Economists.