Which work argues that biodiversity should be treated as economic capital and seeks to integrate ecology into economics?

Which work argues that biodiversity should be treated as economic capital and seeks to integrate ecology into economics?

• A. Farmer et al. 2015
• B. Groom & Turk 2021
• C. Berkes et al. 2000
• D. Hoekstra 2012

Answer: (B)

The main idea being tested is the integration of ecological thinking into economic planning by treating biodiversity as economic capital. When biodiversity is seen as capital, its ecosystem services—like pollination, climate regulation, water purification, and recreational value—are valued and accounted for in economic decisions. This framing pushes for methods to incorporate ecological costs and benefits into markets and policy, so decisions reflect the true value of natural systems rather than externalizing their effects. Groom and Turk 2021 are aligned with this approach, articulating that biodiversity should function as part of the economic capital base and arguing for concrete ways to weave ecological insight into economic analysis and policy. They emphasize valuing biodiversity, improving accounting practices to reflect ecological assets, and shaping incentives so conservation and economic activity reinforce one another. Other works touch on related topics—like ecological knowledge within governance or the broader connections between social and ecological systems—but they do not center biodiversity as economic capital and the explicit integration of ecology into economics to the same degree.

The main idea being tested is the integration of ecological thinking into economic planning by treating biodiversity as economic capital. When biodiversity is seen as capital, its ecosystem services—like pollination, climate regulation, water purification, and recreational value—are valued and accounted for in economic decisions. This framing pushes for methods to incorporate ecological costs and benefits into markets and policy, so decisions reflect the true value of natural systems rather than externalizing their effects.

Groom and Turk 2021 are aligned with this approach, articulating that biodiversity should function as part of the economic capital base and arguing for concrete ways to weave ecological insight into economic analysis and policy. They emphasize valuing biodiversity, improving accounting practices to reflect ecological assets, and shaping incentives so conservation and economic activity reinforce one another.

Other works touch on related topics—like ecological knowledge within governance or the broader connections between social and ecological systems—but they do not center biodiversity as economic capital and the explicit integration of ecology into economics to the same degree.