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FOREWORD <br />Ever since environmentalism became a household word in the 1970s, conserva- <br />tionists and economists have maintained a healthy distrust of one another. But <br />America's patron saint of conservation, Aldo Leopold, rejected the notion that <br />economists and ecologists should be at odds. In defining an environmental ethic <br />for the country in his 1949 classic, A Sand County Almanac, Leopold offered this <br />suggestion: <br />Examine each question in terms of what is ethically and esthetically right, <br />as well as what is economically expedient. A thing is right when it tends <br />to preserve the integrity, stability and beauty of the biotic community. It <br />is wrong when it tends otherwise. <br />It is noteworthy -and certainly not accidental -that Leopold included eco- <br />nomic expediency as part of his environmental ethic. He recognized, as we must <br />today, that there are limitations to what we can expect government regulation to <br />achieve in the quest for environmental quality. <br />Defenders of Wildlife has long been a strong supporter of a regulatory approach, <br />particularly when dealing with species on the brink of extinction. We have <br />lobbied actively for passage of conservation laws, and have filed lawsuits when <br />necessary to enforce them. <br />In recent years, however, we have become more aware of the limitations of a <br />regulatory approach, particularly when dealing with private landowners. We've <br />been encouraged by the success of our experimentation with other approaches, <br />such as our Wolf Compensation Fund in the northern Rockies that compensates <br />livestock producers for all verified livestock losses to wolves. This program has <br />reduced polarization and increased public acceptance of wolf recovery. <br />To the extent that fifty percent of the endangered species in the United States <br />occur almost exclusively on private lands, it is clear that we must continue to seek <br />more effective ways to meet our conservation goals. <br />Our conversations with some of the nation's leading economists and endangered <br />species experts have convinced us that the idea of building economic incentives <br />into the Endangered Species Act merits more discussion. That conclusion has led <br />us to share the thoughts of many of those experts via this publication. It goes <br />without saying that the ideas expressed in the following pages represent the <br />thinking of the contributors, not necessarily of Defenders, nor even of the agen- <br />cies and organizations for whom they work. The important thing is that with this <br />publication we have provided a forum for further discussion. <br />v <br />