Economics of Nature

There is an excellent article on importance of biodiversity here.

One of the point it mentions is that the benefits of nature to us are free.

By and large, we do not pay for any of this: our economics does not, for the most part, include paying for nature. But we pay when it is lost(biodiversity). Less fertile soils make it harder to grow crops. Dirtier water is more expensive to make fit for human consumption. The collapse of fisheries leads to unemployment. The loss of mangroves increases the impact of tsunamis. The loss of animal species increases the risk that humans will catch diseases such as Lyme disease. Again, the list goes on.

We do not pay for what nature provides. The gifts of nature are free. We start paying only when we loose some gift of nature. We pay for the bottled water because there is no clean drinking water left. We pay for the AC in living rooms because there is no clean air in our cities. We do not value the bounties of nature when we have them in plenty.

The modern living has distanced humans from nature. We live in a sealed compartment where technology has created a layer between us and the natural world. Our direct dealings with the natural world are increasingly rare.

We pay for art. Nature is the most stunning peace of art. It is as beautiful as anything can be. It is full of magnificent sights and sounds . And it is free.

Our economics is based on the model of human activity and ownership. We pay for things where human labour or ownership is involved. Nature belongs to us all.

As technology has made us less dependent on vagaries of nature we have become aloof to our natural surroundings. Instead of taking advantage of what technology has provided us, our greed has made us indifferent to the diversity that exists around us.