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Science Quickly

Nature's Goods and Services Get Priced

Science Quickly

Scientific American

Science

4.41.4K Ratings

🗓️ 1 July 2020

⏱️ 4 minutes

🧾️ Download transcript

Summary

The gross ecosystem product, or GEP, tries to take into account the contribution of nature to the economy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Hello, it's Jamie Lange.

0:02.0

And Sophie Abu, from the book cards.

0:05.0

Well, it's actually Sophie Lange, but that's okay.

0:07.0

From newlyweds, the British Airways Business Class Sale is on huge savings on flights and holidays to the USA and Europe.

0:15.0

You could say it's an elevated flying experience.

0:18.4

Now feast your ears with these discounts, save up to 1,000 pounds on business class flights to the USA.

0:25.5

Package holidays include return business class flights and a hotel stay.

0:29.2

So treat yourself or your loved one, Sophie?

0:31.8

To a well-deserved break, cell ends 13th of November, book at

0:35.4

B.A.com forward slash sale.

0:37.6

Off are subjected to availability. Holidays are at all protected.

0:41.1

Terms and conditions apply.

0:43.0

This is Scientific American 60 Second Science.

0:50.0

I'm Julia Rosen.

0:51.0

Gross Domestic product.

0:53.7

The GDP is a simple way to describe the health of big complicated economies.

0:58.6

And for the last century, the goal of many countries has been to make their GDP go up, but concentrating only on

1:04.6

GDP has had some downsides. In growing the economy we have as an unintended

1:10.4

consequence destroyed parts of nature which are also important for our well-being.

1:16.0

Stephen Pulaski, an environmental economist at the University of Minnesota.

1:20.0

He and his colleagues have created a new measurement, the gross ecosystem product or GEP.

1:26.0

So that we actually have metrics that say, how are we doing on ecosystem management, managing nature, and not just for nature's sake, but how is that coming

...

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