Endangered fishes and economics: intergenerational obligations

Synopsis The diversity of fishes is declining worldwide, largely as the result of habitat alterations created by decisions that foster short-term economic gain. While the best arguments for preserving endangered fishes and ecosystems are non-economic arguments, they have been relatively ineffective. Therefore, it is necessary to provide economic arguments as well. Fish in general have high market values and are a vital source of protein for humans but these values have contributed more to their decline than to their conservation. Fish also have high value as indicators of the health of ecosystems which provide many services to humans, such as clean water. This has not prevented the degradation of aquatic ecosystems, although the value of fisheries has occasionally justified ecosystem protection. Existence values have been developed as a way of putting an economic value on some of the less tangible aspects of fish and ecosystems but they also make it possible to justify extinctions. If the continuous increase in the number of endangered fishes and aquatic ecosystems is to be halted, then the economic costs of environmental degradation to future generations must be included as part of the cost of doing business today (intergenerational value). Political action is needed to protect fishes and aquatic habitats against the day when more benign economic and philosophical systems become predominant.Invited essay