The Creation of Markets for Ecosystem Services in the United States: The Challenge of Trading Places

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With the help of in-depth case studies of three well-known attempts to create such markets in the Chesapeake Bay watershed, the Ohio River basin and the Willamette River basin the book explains why very few of these markets have actually succeeded even after close to two decades of much scholarly enthusiasm, significant federal funding and concerted efforts by NGOs, government agencies and private businesses.

Based on interviews, policy analysis and participatory observation, three features of markets for ecosystem services emerge as particularly problematic. First, the logic of displacement or the idea that particular elements of an ecosystem can be separated and traded across landscapes or watersheds runs counter to political interests, environmental beliefs and people's connections to specific places. The second problem is that of measurement. Quantification methods embed a range of often contentious assumptions and decisions about what counts when restoring ecosystems. The third problem is related to participation in environmental decision-making.

'This is a thoughtful and engaging history of the often misguided attempts to create markets for ecosystem services in the US and a guide to more participatory institutions that might work significantly better. Essential reading for anyone interested in ecosystem services.' Robert Costanza, Chair in Public Policy, Crawford School of Public Policy, The Australian National University

'...pulls readers into the complex relationship between environment and economy. In this multi-sited ethnography, Van Maasakkers hones in on three large-scale US conservation and restoration projects, exposing gaps in market-based approaches and the ultimate failure of the financialization of nature.' Anna Krol & Lisa Jean Moore, Nature's Worth: Using Human Markets to Value Ecosystems' Contributions

Reviews

This is a thoughtful and engaging history of the often misguided attempts to create markets for ecosystem services in the US and a guide to more participatory institutions that might work significantly better. Essential reading for anyone interested in ecosystem services. Robert Costanza, Chair in Public Policy, Crawford School of Public Policy, The Australian National University

"Mattijs van Maasakkers The Creation of Markets for Ecosystem Services in the United States: The Challenge of Trading Places pulls readers into the complex relationship between environment and economy. In this multi-sited ethnography, Van Maasakkers hones in on three large-scale US conservation and restoration projects, exposing gaps in market-based approaches and the ultimate failure of the financialization of nature." Anna Krol & Lisa Jean Moore, "Natures Worth: Using Human Markets to Value Ecosystems Contributions", Metropolitics, 20 February 2018.

Author Bio

Mattijs van Maasakkers is an assistant professor of city and regional planning at Ohio State University. Trained at the Massachusetts Institute of Technology, van Maasakkerss research and teaching focus on the role of science and technology in environmental policy-making and implementation.