Stephen Polasky: Accounting for Nature, Incorporating the Value of Nature in Economic Decisions
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The two great challenges of the 21st century are to achieve economic development so that all people can have a decent standard of living, and to conserve and enhance the natural capital necessary for long-term sustainability. In order to simultaneously meet both challenges we need to effectively integrate the value of nature into the economic system. Nature currently provides a wide range of valuable goods and services (ecosystem services). However, current economic systems do not account forView more
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