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G. M. Heal

Nature and the Marketplace: Capturing The Value Of Ecosystem Services First Edition

by Geoffrey Heal (Author)

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In recent years, scientists have begun to focus on the idea that healthy, functioning ecosystems provide essential services to human populations, ranging from water purification to food and medicine to climate regulation. Lacking a healthy environment, these services would have to be provided through mechanical means, at a tremendous economic and social cost.

Nature and the Marketplace examines the controversial proposition that markets should be designed to capture the value of those services. Written by an economist with a background in business, it evaluates the real prospects for various of nature's marketable services to “turn profits” at levels that exceed the profits expected from alternative, ecologically destructive, business activities. The author:

describes the infrastructure that natural systems provide, how we depend on it, and how we are affecting it
explains the market mechanism and how it can lead to more efficient resource use
looks at key economic activities -- such as ecotourism, bioprospecting, and carbon sequestration -- where market forces can provide incentives for conservation
examines policy options other than the market, such as pollution credits and mitigation banking
considers the issue of sustainability and equity between generations .
Nature and the Marketplace presents an accessible introduction to the concept of ecosystem services and the economics of the environment. It offers a clear assessment of how market approaches can be used to protect the environment, and illustrates that with a number of cases in which the value of ecosystems has actually been captured by markets.
The book offers a straightforward business economic analysis of conservation issues, eschewing romantic notions about ecosystem preservation in favor of real-world economic solutions. It will be an eye-opening work for professionals, students, and scholars in conservation biology, ecology, environmental economics, environmental policy, and related fields.

ISBN-10

155963796X
ISBN-13

978-1559637961
Edition

First Edition
Publisher

Island Press
Publication date

October 1, 2000
Language

English
Dimensions

6 x 0.7 x 9 inches
Print length

224 pages
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Barret Morgan Wessel

I have to say that this is the only good book that I have ever come across that bridges ...

Reviewed in the United States on June 6, 2015

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Writing as an environmental scientist, I have to say that this is the only good book that I have ever come across that bridges economics and environmental science. Most books that attempt this are too ignorant in one of those fields, or focus too heavily on one antiquated case study, but Heal manages to present compelling and relevant arguments on a variety of issues. I would highly recommend this book.

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trading pollution permits

Reviewed in the United States on June 27, 2006

Heal explains how one might put a value on an ecosystem, or parts thereof. It's a relatively recent approach that attempts to avoid a tragedy of the commons with respect to the environment, be it local or even global.

A very useful idea described is the trading of pollution permits. The latter are rights to pollute. The premise is that instead of a government trying to mandate a minimum pollution level, it lets a free market determine this, by giving monetary value to permits. So that a company has incentive to develop or use innovative ways to minimise its pollution. Hence being able to sell any net gains to others. This also avoids the government trying to set a value on a permit.

The book suggests that carbon permits might be crucial in battling global warming.

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