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Article
Publication date: 1 January 1999

Ulrich Hampicke

In practice, monetary valuation of biotic resources by the concept of total economic value (TEV) is a powerful tool for a rational treatment of this fraction of natural capital…

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Abstract

In practice, monetary valuation of biotic resources by the concept of total economic value (TEV) is a powerful tool for a rational treatment of this fraction of natural capital and for its conservation. Beyond methodological limits to monetarisation with regard to its marginal character there are also moral limits. Adopting the weakest and least controversial assumptions regarding both mankind’s dependence on biodiversity and environmental ethics, one is led to the conclusion that the impossibility of communicating with future generations forbids us to value biodiversity only in monetary terms. Fairness towards futurity demands that we consider conservation as a constraint on economic activity.

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International Journal of Social Economics, vol. 26 no. 1/2/3
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 19 November 2003

Abstract

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Handbook of Transport and the Environment
Type: Book
ISBN: 978-0-080-44103-0

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