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Science Quickly

Nature's Goods and Services Get Priced

Science Quickly

Scientific American

Science

4.2639 Ratings

🗓️ 30 June 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

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0:00.0

Understanding the human body is a team effort. That's where the Yachtel group comes in.

0:05.8

Researchers at Yachtolt have been delving into the secrets of probiotics for 90 years.

0:11.0

Yacold also partners with nature portfolio to advance gut microbiome science through the global grants for gut health, an investigator-led research program.

0:19.6

To learn more about Yachtolt, visit yawcult.co.

0:22.7

.j.p. That's y-A-K-U-Lt.C.O.J.P. When it comes to a guide for your gut, count on Yacolt.

0:33.5

This is Scientific American 60-second Science. I'm Julia Rosen.

0:39.0

Gross domestic product.

0:40.8

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

0:45.8

And for the last century, the goal of many countries has been to make their GDP go up.

0:50.4

But concentrating only on GDP has had some downsides.

0:53.7

In growing the economy, we have, as an unintended consequence, destroyed parts of nature, which are also important for our well-being.

1:03.0

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

1:08.0

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

1:12.2

or GEP. So that we actually have metrics that say, how are we doing on ecosystem management,

1:19.4

managing nature, and not just for nature's sake, but how is that coming back and influencing our

1:24.8

own well-being? So really, GEP is trying to say, what is the contribution

1:30.5

of nature to the economy? So in a parallel way to what GDP does in measuring kind of economic

1:37.3

performance. Tallying up the economic value of timber and fisheries is fairly straightforward,

1:42.4

but other benefits of a healthy environment

1:44.8

can be less obvious. Insects pollinate crops. Intact rivers improve water quality and

1:50.2

buffer downstream cities from floods. Thriving ecosystems draw tourists who spend money.

1:55.5

And part of the issue here is that it is difficult to price some of these things. Some people even say, well, they're

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