Handbook on the Economics of Natural Resources
Show Less

Handbook on the Economics of Natural Resources

Edited by Robert Halvorsen and David F. Layton

The topics discussed in the Handbook on the Economics of Natural Resources are essential for those looking to understand how best to use and conserve the resources that form the foundation for human well-being. These include nonrenewable resources, modeling of biological resources, conservation of biological resources and water resources. The expert contributors of this Handbook provide solutions to many of the problems that growing populations now face, and sketch the likely future developments in the field of natural resource economics whilst paving the way for new thinking.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 12: Ecosystem services

Edward B. Barbier

Extract

There is an emerging consensus among economists and ecologists that ecosystems should be viewed as economic assets that produce a flow of beneficial goods and services over time, which are commonly referred to as ecosystem services (MA 2005). Such benefits are diverse and wide-ranging, and generally arise through the natural functioning of relatively undisturbed ecosystems. For example, as Daily et al. (2000, p. 395) state, ‘the world’s ecosystems are capital assets. If properly managed, they yield a flow of vital services, including the production of goods (such as seafood and timber), life support processes (such as pollination and water purification), and life-fulfilling conditions (such as beauty and serenity).’ The unique way in which such valuable and myriad ‘services’ arise from ecosystems distinguishes them as a unique form of wealth, or ecological capital (Barbier 2011a).

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.