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About Herman Daly

Blog • 27.11.2014

Use and Abuse of the “Natural Capital” Concept

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By: Herman Daly

Some people object to the concept of “natural capital” because they say it reduces nature to the status of a commodity to be marketed at its exchange value. This indeed is a danger, well discussed by George Monbiot. Monbiot’s criticism rightly focuses on the monetary pricing of natural capital. But it is worth clarifying that the word “capital” in its original non-monetary sense means “a stock ...