Economists are providing market-friendly ways to get the price right on some key issues in conservation policy.
The accumulation of carbon in the Earth’s atmosphere and oceans is the greatest market failure in history. It is settled science that carbon emissions have contributed significantly to global climate change, manifest in warmer temperatures, higher sea levels, more dramatic weather events, and the acidification of saltwater. But these net costs are not incorporated in the prices of carbon fuels. MORE>
What is the economic value of clean air? Of a forest? Of a mangrove swamp? Key elements of our environmental heritage have been lost because no one put a price on them. By assigning an economic value to the services ecosystems provide to society, we can help markets do what they do best. And land and water managers can better understand the true costs and benefits of their resource decisions. MORE>