Existence Value has become an increasingly important concept as the use of cost benefit analysis has spread from traditional applications to attempts to place monetary value on, for instance, a rare wetland habitat. Environmental economists have generally accepted the tensions arising in the existence value concept from the range of recent applications, but it is argued here that their various attempts to resolve the difficulties have largely failed. Critics from outside economics, on the other hand, typically claim that the very (...) notion of existence value as understood in economics is flawed, and urge its abandonment altogether. This paper suggests instead a fundamental redefinition of existence value, which, it is argued, (i) explains a number of diverse problems posed by the usual meaning of the term in economics; (ii) does not strain the intentions of respondents to ' willingness-to-pay' surveys; (iii) is consistent with a more realistic model of rational choice in environmental decision-making; and (iv) is sensitive to criticisms from environmental ethics.2. (shrink)

In its restless metamorphosis, the environmental movement captures ideas and transforms them into principles, guidelines and points of leverage. Sustainability is one such idea, now being reinterpreted in the aftermath of the 1992 Rio Conference. So too is the precautionary principle. Like sustainability, the precautionary principle is neither a well defined principle nor a stable concept. It has become the repository for a jumble of adventurous beliefs that challenge the status quo of political power, ideology and civil rights. Neither concept (...) has much coherence other than it is captured by the spirit that is challenging the authority of science, the hegemony of cost-benefit analysis, the powerlessness of victims of environmental abuse, and the unimplemented ethics of intrinsic natural rights and inter-generational equity. It is because the mood of the times needs an organising idea that the precautionary principle is getting a fair wind. However, unless its advocates sharpen up their understanding of the term, the precautionary principle may not establish the influence it deserves. Its future looks promising but it is not assured. (shrink)

To hold an environmental ethic is to hold that non-human beings and states of affairs in the natural world have intrinsic value. This seemingly straightforward claim has been the focus of much recent philosophical discussion of environmental issues. Its clarity is, however, illusory. The term ‘intrinsic value’ has a variety of senses and many arguments on environmental ethics suffer from a conflation of these different senses: specimen hunters for the fallacy of equivocation will find rich pickings in the area. This (...) paper is largely the work of the underlabourer. I distinguish different senses of the concept of intrinsic value, and, relatedly, of the claim that non-human beings in the natural world have intrinsic value; I exhibit the logical relations between these claims and examine the distinct motivations for holding them. The paper is not however merely an exercise in conceptual underlabouring. It also defends one substantive thesis: that while it is the case that natural entities have intrinsic value in the strongest sense of the term, i.e., in the sense of value that exists independently of human valuations, such value does not as such entail any obligations on the part of human beings. The defender of nature’s intrinsic value still needs to show that such value contributes to the well-being of human agents. (shrink)

Gifford Pinchot, the first official U.S. Forester, wrote: “There are just two things on this material earth—people and natural resources.” This philosophy apparently implies that all things other than people have only instrumental value. Environmentalists, even professional foresters, today believe that Gifford Pinchot’s system of forest management is both theoretically and practically inadequate. A difficult, and central, problem in the theory of environmental management is therefore to characterize exactly how Pinchot went wrong. If we knew that, we would be well (...) on our way to formulating a new theory of management, one that would be more adequate to the complexities of today’s environmental problems. (shrink)