Throughout the industrial era, economists considered…
“Throughout the industrial era, economists considered manufactured capital - money, factories, etc. - the principal factor in industrial production, and perceived natural capital as a marginal contributor. The exclusion of natural capital from balance sheets was an understandable omission. There was so much of it, it didn't seem worth counting.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Historically, economists ignored natural capital, treating it as abundant and uncountable, which led to environmental oversight.
In simple terms: Economists overlooked nature’s value, assuming it was limitless.
Key Takeaway
Account for natural resources in economic decisions.
Themes
environment
economics
valuation
Mood
concerned
hopeful
Type
analytical
policy‑oriented
When to use this quote
- corporate reporting
- government budgeting
- urban planning
- investment analysis
Key Concepts
sustainability
resource accounting
policy
ecology
Questions to Reflect On
- How can natural capital be measured accurately?
- What policies can integrate nature into economics?
A Different Perspective
Quantifying nature is complex and may undervalue ecosystem services.