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Wild CapitalNature's Economic and Ecological Wealth$
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Barbara K. Jones

Print publication date: 2019

Print ISBN-13: 9781683401049

Published to Florida Scholarship Online: May 2020

DOI: 10.5744/florida/9781683401049.001.0001

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PRINTED FROM FLORIDA SCHOLARSHIP ONLINE (www.florida.universitypressscholarship.com). (c) Copyright University Press of Florida, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in FLASO for personal use.date: 20 September 2021

Creating Wild Capital from the Ecosystem Services Model

Creating Wild Capital from the Ecosystem Services Model

Chapter:
(p.12) 1 Creating Wild Capital from the Ecosystem Services Model
Source:
Wild Capital
Author(s):

Barbara K. Jones

Publisher:
University Press of Florida
DOI:10.5744/florida/9781683401049.003.0002

By failing to assign nature value in our current Anthropocene, the opportunity costs of diminishing biodiversity are not recognized in the marketplace, leading to significant negative consequences for both nature and humanity. Polluting water, destroying habitats, or exterminating species should each lessen nature’s value, but if nature has never been assigned a value, that loss is not recognized and development becomes the default. The words “wild capital” remind us that nature should be viewed as an asset like any other, and that in doing so we are better equipped to appreciate its long-term worth. Since the ecosystem services model (ES) ties together the ecological, social, and economic needs of human well-being, it is well situated to assign nature value and from that make a case for nature as natural capital. To assist in policy decisions, ES has offered a path based on the language of economics, making it appealing to economists, while to conservationists, it has turned an argument about the negative effects of development on wildlife into a more fruitful dialogue about how beneficial conservation is for human well-being. ES is also compatible with efforts at sustainability and the goals of the Endangered Species Act (ESA) and 2005 Millennium Ecosystem Assessment.

Keywords:   2005 Millennium Ecosystem Assessment, Sustainability, Biodiversity, Economics, Ecosystem services model, Wild capital, Anthropocene, Endangered Species Act, Conservation

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