A conceptual framework for integrating the broader perspective on natural capital into Economics
A conceptual framework for integrating the broader perspective on natural capital into Economics

Summary/Abstract: The aim of this article is to provide a preliminary framework for integrating natural capital in its fullest form into Economics. Since many benefits derived from natural capital are inherently weakly quantifiable, we focus on another variable, the capacity of the ecosystem to sustain life, and argue that it can act as a threshold, severely limiting the benefits we derive from the natural environment. Given this conclusion, it follows that when natural capital exploitation is considered, a sustainable use of the resource stock would dictate that the live-sustaining function of the ecosystem should be preserved. Some of the implications of our reasoning towards current debates in sustainability are also discussed.

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