How should we understand the ‘value’ of nature?

The natural world provides all the building blocks of our lives and societies; we are embedded within it, and nothing

How should we understand the ‘value’ of nature?

The natural world provides all the building blocks of our lives and societies; we are embedded within it, and nothing without it. But our economies currently operate as though separate from nature, with consumption outstripping its supply of resources, and environmental degradation and instability worsening faster than ever.

What we need, argues Sir Partha Dasgupta, is to redefine the relationship between ecology and economy. His recently published Review on The Economics of Biodiversity proposes applying an economic lens to the value of the natural world to understand and measure the rich array of resources our planet provides, and how to use them responsibly. How can this approach help us to transform our extractive and exploitative relationship with nature into a sustainable and respectful one? Can quantifying the value of nature in economic terms be consistent with valuing our planet for its own sake?

An expert panel gathers to reflect on the findings and recommendations in the Dasgupta Review, and discuss how to rebuild our economic system with sustainable prosperity at its heart.

Sir Partha DasGupta discusses natural capital and what it means in terms of economy.  We have generally ignored our ecosystems including farm land and forests.

Sir Partha DasGupta discusses natural capital and what it means in terms of economy.  We have generally ignored our ecosystems including farm land and forests.

Sir Partha DasGupta. Frank Ramsey Professor Emeritus of Economics, University of Cambridge, has written an article entitled "Nature's Role in Sustainable Economic Development" for the issue of Philosophical Transactions B "Personal perspectives in the life sciences for the Royal Society's 350th anniversary". In this podcast Wendy Barnaby interviews Sir Partha about his article and how nature should be taken into account when looking at economic development.