We would like to point your attention to a recent Boston Magazine piece titled “The $100 Million Pond–A bold new idea for protecting nature: put a price on it.”  The article does an excellent job of discussing the innovative approach of monetizing nature’s services as well as weighing an array of viewpoints about this methodology.  Essentially, by putting a price tag on this natural capital, or ecosystem services, the economic value of outdoor spaces becomes more easily apparent.  Supporters of this approach point to the fact that decision makers must weigh the costs and benefits of any decision.  By monetizing the economic value of these areas, decision makers will be more likely to protect the ecosystem or to even reclaim developed areas, much as we have done with the protection of wetlands.

Opponents of this method, however, worry that monetizing nature overlooks its intrinsic value.  As one writer put it, “Ecosystems were not made to serve people.  I worry about teaching children and legislators to protect nature because of these services.  I think there are bigger and better reasons to protect nature.”

We would love to hear your thoughts!

Image Courtesy of Allysia Angus