The economic valuation of nature: A question of justice?

While many of the concerns over the economic valuation of nature have gained broad exposure, justice concerns remain largely peripheral. Within both scholarly debate and actual valuation exercises, the emphasis is most often on reconciling cultural and monetary valuation. Increasingly, as the valuation of nature gains momentum, proponents of the trend seek to relieve apprehensions by suggesting that economic valuation is entirely compatible with intrinsic and esthetic values. This attempt to mollify skeptics, however, misses the mark; regardless of whether or not nature may be valued simultaneously in cultural and economic terms, the social and environmental justice implications of monetary valuation remain. The purpose of this commentary is to clarify that much of the resistance to the economic valuation of nature is motivated by these justice concerns and that reassurances about the cultural value of nature do little to quell them. Several of the justice reasons to remain cautious of the economic valuation of nature are also elaborated.