Faced with a growing array of environmental problems, can society find lasting solutions? This paper argues that conventional approaches are insufficient to address the spectrum of potentially catastrophic and irreversible environmental issues facing our world. It emphasizes the inherent unpredictability of these problems, requiring a shift towards more resilient strategies. The authors point out the difficulty in detecting early warning signs of change, hindering the development of effective solutions. Moreover, the displacement of these signals across different sectors further complicates the process. Consequently, the research suggests that traditional market mechanisms alone are inadequate to tackle these challenges. The authors focus on the problems involved with modeling situations in which community composition, including both the number of trophic levels and the species composition within a trophic level, can change. This research calls for a fundamental re-evaluation of our approach to environmental management, urging the development of adaptive strategies that can withstand unforeseen disruptions. By highlighting the limitations of conventional solutions, the paper paves the way for innovative and more resilient approaches to environmental sustainability.
Published in Environment and Development Economics, this article is directly relevant to the journal's focus on the intersection of environmental issues and economic development. By exploring the concept of resilience in both natural and socioeconomic systems, the paper contributes to a deeper understanding of the complex challenges facing sustainable development and the need for innovative solutions.