Natural capital : the limiting factor

Abstract

The global economy is approaching crisis because of our neglect and misuse of the ecosystems that sustain us. Ecological overshoot of the globe's economy is an indisputable reality (Wackernagel et al., 2002). The Millennium Ecosystem Assessment (MEA) concluded that humans over the past few decades have changed ecosystems more rapidly and extensively than in any comparable period of time in human history. The challenge of slowing down, but preferably reversing, the degradation of ecosystems, while simultaneously meeting increasing human demands for energy, food, and ecosystem services requires significant changes in policies, institutions, and practices that are not currently under way (MEA, 2005). In other words, radical changes away from ‘business as usual’ or, better expressed, ‘dynamics as usual’ are needed.