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Reconciling Ecosystem Services with Economic Theory and Policy

Reconciling Ecosystem Services with Economic Theory and Policy

Neoclassical economic theory, which has come to dominate much of the policymaking world,reduces the factors of production to labor and capital. The link between land — or more generally natural capital and ecosystem services – with economy has effectively been severed by neoclassical economic thought. In that aftermath, both policymakers and academics understandably struggle to synthesize economic theory and the environmental sink in a systematic fashion. Read the full article here