| Line | The argument for monetizing—or putting a |
| | monetary value on—ecosystem functions may be |
| | stated thus: Concern about the depletion of natural |
| | resources is widespread, but this concern, in the |
| (5) | absence of an economic argument for conservation, |
| | has not translated into significant conservational |
| | progress. Some critics blame this impasse on |
| | environmentalists, whom they believe fail to address |
| | the economic issues of environmental degradation. |
| (10) | Conservation can appear unprofitable when compared |
| | with the economic returns derived from converting |
| | natural assets (pristine coastlines, for example) into |
| | explicitly commercial ones (such as resort hotels). |
| | But according to David Pearce, that illusion stems |
| (15) | from the fact that services provided by ecological |
| | systems are not traded on the commodities market, |
| | and thus have no readily quantifiable value. To |
| | remedy this, says Pearce, one has to show that all |
| | ecosystems have economic value—indeed, that all |
| (20) | ecological services are economic services. Tourists |
| | visiting wildlife preserves, for example, create |
| | jobs and generate income for national economies; |
| | undisturbed forests and wetlands regulate water |
| | runoff and act as water-purifying systems, saving |
| (25) | millions of dollars worth of damage to property |
| | and to marine ecosystems. In Gretchen Dailys |
| | view, monetization, while unpopular with many |
| | environmentalists, reflects the dominant role that |
| | economic considerations play in human behavior, |
| (30) | and the expression of economic value in a common |
| | currency helps inform environmental decision-making |
| | processes. | |