Part one: Public and private money - doing it for someone else
Innovation in agriculture in the coming years could free up land for use in rebuilding biodiversity.
From an economic perspective, conserving biodiversity provides one very sharp challenge: many of the services provided by biodiversity are public goods that can be bundled with private goods and their value to consumers captured in the price realised by agricultural goods.
The possible government-financed return to providing public goods could be small and even in a non-market context farmers and Defra might encounter difficulties in proving they are providing public goods at an efficient level.
Part one examines:
- Where do you start?
- Which tools to use
- How to measure biodiversity
- Who is going to pay for biodiversity?
- Who has the most to gain from this?
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