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Last modified
7/14/2009 5:02:31 PM
Creation date
5/22/2009 6:55:04 PM
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UCREFRP
UCREFRP Catalog Number
7887
Author
Fischer, H., (Wendy E. Hudson, ed.).
Title
Building Economic Incentives Into The Endangered Species Act, Third Edition.
USFW Year
1994.
USFW - Doc Type
Washington, D.C.
Copyright Material
NO
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1 ECONOMIC INCENTIVES TO PRESERVE ENDANGERED <br />SPECIES HABITAT AND BIODIVERSITY ON PRIVATE LANI <br />Jim McKinney, Mark Shaffer, Jeff Olson <br />The Wilderness Society <br />NEED AND RATIONALE FOR ECONOMIC INCENTIVES <br />The Endangered Species Act (ESA) can be considered an expression of the <br />substantial biological and social value American society holds for endangered <br />species. While our political system recognizes and manifests this value, our <br />economic system does not. Moreover, our economic system is working at cross <br />purposes to the ESA and the societal values of biological conservation it repre- <br />sents. Some of the major causes of species endangerment in the United States <br />include residential and commercial development, agricultural practices, timber <br />management, resource extraction, and energy and water development (Flather, In <br />Press). These economic activities can result in habitat loss or degradation, which <br />invariably result in species endangerment, and then loss of biodiversity. It is a <br />simple chain of events to understand, yet is a difficult cycle to influence. <br />Economic and market forces do not have to act counter to our national goal of <br />endangered species preservation. These powerful forces can be realigned to work <br />in tandem with our regulatory-based strategy to protect endangered species and <br />biodiversity (Repetto 1992). A system of economic incentives, both positive and <br />negative, can begin to translate the broader values of biological conservation into <br />terms of prices. Economic activities that conserve or restore valuable biological <br />habitats can be promoted and encouraged through lower costs or higher returns. <br />Economic activities that destroy or degrade such habitats can be discouraged <br />through higher costs or lower returns. In such an economic environment, the <br />market can work for the conservation of important biological habitats by helping <br />to bring equilibrium to a system out of balance. Those with valuable biological <br />resources on their land can be rewarded and encouraged for developing innova- <br />tive ways of integrating habitat preservation with sustainable economic activity. <br />Why does our economic system continue to work at cross purposes to the signifi- <br />cant valuer we, as individuals and a country, hold for our natural world? Because <br />we continue to separate social values from economic decision making, and in so <br />doing, leave out important chunks of the equation when we calculate the financial <br />' The concept of total economic value is a useful typology for identifying the several values <br />society holds for natural resources. Total economic value is the sum of use values (consumption, <br />direct non-consumptive enjoyment), option values (the desire to preserve resources for the <br />enjoyment of future generations), and existence values (the satisfaction from knowing that <br />biological resources such as blue whales and South American butterflies exist, even if they are <br />never experienced directly) (Pearce, 1990). <br />
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