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The Economic Logic of Preserving Wild Areas

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A few weeks ago I mentioned a new collaboration between the filmmaker Ken Burns and the creators of the American Prairie Reserve in Montana. They’re working together on a prize in Burns’s name, to recognize artists, historians, or other cultural and civic leaders who have advanced modern awareness of the American idea. “The American Idea” is the Atlantic’s favorite term for this concept, that being part of our magazine’s founding charter; the Prairie Reserve people use the term “American spirit,” but we’re talking about the same thing.

In that item and other reports on the APR, I’ve mentioned their non-traditional, market-minded approach to protecting plant and animal life and recreating, across millions of acres, something like the pre-Lewis & Clark plains bioscape. In response, reader W.B. sent in a lead to a Library of Economic Liberty podcast last fall, in which Peter Geddes of the APR talks with economist Russ Roberts about the economic logic of the undertaking. The podcast is an hour long, and a transcription accompanies it. I found it interesting and recommend it to anyone interested in the long-term economics of sustainability. (Which was also the theme of my Al Gore piece last fall.)

Two samples. One, about the proper scale of the Reserve:

Roberts: Is it enough? I mean, it's big, but is it big enough?

Geddes: It is. What the conservation biologists have told us we need is a minimum size, and then all this of course is overlaid with what you can actually do practically. There are places in the country where conservation at this kind of scale is just frankly impossible. So, you've been out to the Bozeman area and know how popular and how fast-growing it is. The cost of getting the land is just too great.

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