Biodiversity – What is it and Why is
it Important?
Jon D. Erickson
Gund Institute for Ecological Economics
ABSTRACT. The diversity of life from the genetic to ecosystem scale, resulting from billions of years of evolution, provides the very fabric of human social and economic systems. From the complexity and interdependent relations of biodiversity emerge ecosystem functions. These functions form the life support system of the planet and provide a rich variety of ecosystem goods and services that humanity needs and desires. As the human economy grows at the competitive exclusion of other species, the trade-off between economic and ecosystem services has come into focus. Our understanding of and appreciation for the ties between ecosystem function and biodiversity conservation is at the heart of this trade-off. The biophysical characteristics of resources, together with their socioeconomic dimensions, will ultimately determine the degree to which market or collective mechanisms can evaluate and manage these trade-offs. Toward this end, this presentation will build an ecological economic framework from which to define biodiversity, appraise its importance, and assess the synergies and trade-offs between agricultural development and biodiversity conservation.