The Environmental Turn in Natural Resource Economics: John Krutilla and 'Conservation Reconsidered'

25 Pages Posted: 10 May 2016

See all articles by H. Spencer Banzhaf

H. Spencer Banzhaf

Georgia State University - Department of Economics; PERC - Property and Environment Research Center; National Bureau of Economic Research (NBER)

Multiple version iconThere are 2 versions of this paper

Date Written: May 9, 2016

Abstract

Environmentalism in the United States historically has been divided into its utilitarian and preservationist impulses, represented by Gifford Pinchot and John Muir, respectively. Pinchot advocated conservation of natural resources to be used for human purposes; Muir advocated protection from humans, for nature's own sake. In the first half of the 20th century, natural re-source economics was firmly in Pinchot's side of that schism. That position began to change as the post-war environmental movement gained momentum. In particular, John Krutilla, an economist at Resources for the Future, pushed economics to the point that it could embrace Muir's vision as well as Pinchot's. Krutilla argued that if humans preferred a preserved state to a developed one, then such preferences were every bit as "economic." Either way, there were opportunity costs and an economic choice to be made.

Keywords: Krutilla, Conservation, Preservation, Existence Value

JEL Classification: B21, B31, Q3, Q5

Suggested Citation

Banzhaf, H. Spencer, The Environmental Turn in Natural Resource Economics: John Krutilla and 'Conservation Reconsidered' (May 9, 2016). Available at SSRN: https://ssrn.com/abstract=2777725 or http://dx.doi.org/10.2139/ssrn.2777725

H. Spencer Banzhaf (Contact Author)

Georgia State University - Department of Economics ( email )

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PERC - Property and Environment Research Center

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