The Role of “Natural Capital” in the Debate About Biodiversity
Discussion about the concept of “natural capital” raises many important issues. But is it the most important debate we could be having about the current extinction crisis? I argue that the whole debate about “natural capital” and its monetary valuation—both for and also against—leaves the most important questions about biodiversity, extinction, and the deterioration of ecosystems basically untouched. Particularly significantly, it does not address the biggest economic forces at work: the economics of land use change and the economics of climate change.