%0 Journal Article %T A Macroeconomic Model of Biodiversity Protection %A David Martin %J Theoretical Economics Letters %P 39-44 %@ 2162-2086 %D 2013 %I Scientific Research Publishing %R 10.4236/tel.2013.35A1006 %X

Many biodiversity researchers have responded to the financial constraints faced by policy makers to develop models based upon the ¡°Noah¡¯s Ark¡± metaphor, implying that society can save only a limited amount of biodiversity. Unfortunately, as Herman Daly (Land Economics, 1991) pointed out, such microeconomic rules can allow an ark to sink albeit in some optimal fashion. So, I step back to look at the macroeconomic question, how big should the ark be? I start with Norgaard¡¯s (Ecological Economics, 2010) framework, which is based upon the concept of a production possibility frontier combined with a sustainability criterion. I develop a model from that starting point by shifting to an isoquant framework while maintaining the strong sustainability criterion. I demonstrate how this model allows for identifying and addressing the key biodiversity protection policy criteria at the macroeconomic level. One key conclusion from this modeling is that Daly¡¯s analysis remains remarkably prescient.

%K Biodiversity Protection %K Natural Capital %K Conservation %K Macroeconomics %K Sustainable Development %U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=36993