Summary: Majority governments around the world have been focusing more on economic crisis’ more than the needs of their surrounding environments. A new thought has been pitched by the UN Environmental Program that looks at nature as an “ecosystem service” provider; in other words, viewing the environment fiscally. This means that the resources we use will no longer be free. Local people of resource rich areas will demand to know who and what is in control of the land around them as well as compensation for displacement and such. In the past, credit systems were placed on carbon dioxide emissions but big corporations were able to find their way around or “pay off” the damage. Frankly, the value of a rain forest cannot be put into a monetary value. Instead of basing on the worlds failed markets, more government control should phase out subsidies harmful to the environment and become more aware of the true value of nature.
Analysis: In more ways than we think, global warming, the loss of biodiversity, and depletion of water already affect the global economy. What was thought once to be an endless supply of medical revolutions and even the air we breathe are being destroyed; turned into vast farmlands and factory grounds. Also, outlined in the article is the fact that fact that previous ideas to control the use of resources have failed. Even in a positive system of conservation involving policies other international governments, there lies risk to other factors. Threats are placed on the indigenous people living in these resource rich areas such as displacement and loss of income received from said resources. Industry from early Europe has already drawn the short straw for residents of these areas by taking advantage of the undeveloped countries. In conclusion, the outcomes of previous financial market based economy is too far a risk to apply the fate of remaining resources on earth.