Economic value of natural Coastal wetlands: A critique

Recent estimates by J. Gosselink, E. Odum, and R. Pope of the economic value of natural wetlands have had considerable impact on analyses and discussions of public policies concerning natural wetlands management. However, these economic value estimates are neither conceptually nor empirically correct. First, these workers failed to recognize the nature of the process by which economic values are determined and made an illegitimate marriage of the principles of systems ecology and economic theory. Second, where Gosselink et al. attempted to apply proper economic principles, their calculations resulted in economic value estimates that are most likely in error.