When reviewing the situation of renewable resources, such as fisheries and forests, there is widespread evidence of overexploitation and useless destruction. They have in common the failure of market mechanisms to induce sustainable behavior, either because of absence of property rights, leading to the so-called “Tragedy of the Commons”, or externalities that are not valued by markets, such as soil and water cycle regulation by forests, for example. In addition, many species are treated as exhaustible resources because their biological regeneration cycle is too long to compete with alternative use of the land, given the impatience signaled by interest rates. Different policy options to deal with these market failures are discussed, as well as the role of artificial production methods such as forests plantation and management, as well as aquaculture, to alleviate the pressures over natural assets.

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Challenges in the Sustainable Management of Renewable Resources

  • Joaquín Vial

摘要

When reviewing the situation of renewable resources, such as fisheries and forests, there is widespread evidence of overexploitation and useless destruction. They have in common the failure of market mechanisms to induce sustainable behavior, either because of absence of property rights, leading to the so-called “Tragedy of the Commons”, or externalities that are not valued by markets, such as soil and water cycle regulation by forests, for example. In addition, many species are treated as exhaustible resources because their biological regeneration cycle is too long to compete with alternative use of the land, given the impatience signaled by interest rates. Different policy options to deal with these market failures are discussed, as well as the role of artificial production methods such as forests plantation and management, as well as aquaculture, to alleviate the pressures over natural assets.