With thanks to Miss Eagle for alerting me to this forthcoming Lecture Tour.
When she emailed me today, about this I immediately asked:

- Its about time someone started asking the right questions.
Her reply owes much to Adam Smith, of course:
- Denis, one little economic rule of thumb is scarcity+demand = value.
- If you keep promoting the little blue friend on your blog with continued reference to its scarcity then the scarcity and demand components might be in sufficient quantity to give the little thing a quantifiable value.

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I can but live in hope.
Meanwhile, if you can make it to one of these Lectures
I am sure it would be worthwhile.
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Hosted by the Centre for Policy Development
What is the World Worth?
Pavan Sukhdev

Sydney 3 August | Canberra 4 August | Melbourne 5 August
The BP oil spill, which is dumping around 60,000 barrels of crude into the Gulf of Mexico every day, is a tragic example of the environmental destruction business activity can cause.
Cleaning up the coast and compensating for lost income will be expensive, yet these costs are small compared to the impact of this disaster on ecosystems.
Pavan Sukhdev, pioneering economist and head of the UN Green Economy Initiative, is an expert on the natural capital that gets left off corporate balance sheets: the services that nature provides for “free”, like clean air, fresh water, healthy oceans, fertile soil and stable ecosystems. This week he warned that as long as we allow corporations to avoid paying the costs of environmental damage, CEOs will continue to take natural capital for granted - with dangerous results.
A senior business leader himself, working at UNEP on secondment from Deutsche Bank,
Pavan recognises that the way we do business needs to change:"We have created a soulless corporation that does not have any innate reason to be ethical about anything...So it's up to society and its leaders and thinkers to design the checks and balances that are needed to ensure that the corporation does not simply become cancerous."
So Pavan has been putting a price on nature, measuring the economic value of the world’s ecosystems - and the costs of losing them.
The numbers he has crunched so far are alarming. Global destruction of forests alone is costing the world's economies between US$2 & US$5 trillion a year. More can be found in The Economics of Ecosystems and Biodiversity Report for Business, released this week.
If the US Government had required what Pavan calls a "holistic economic assessment" before BP started offshore drilling, the estimates of ecosystem damage might have led to more stringent safety measures. As things stand,
Pavan says "we only think about them after there is a problem, and then scurry about and chase our tails for a bit."
The BP oil spill is a powerful lesson in how NOT to protect nature's precious assets – and a reminder that neither business nor government can afford to bailout bankrupt ecosystems.
Book or register now to hear how we can avoid an environmental credit crunch that could see vital ecosystems collapse. We cannot afford to ignore Pavan’s ideas for the next generation of economics and environmentalism.
SYDNEY – TICKETS SELLING FAST!!
6:30pm Tuesday 3 August 2010
Sydney Opera House, Playhouse Theatre
Don't miss out. Tickets $25.
Call t: 02 9250 7777 or
book online.
CANBERRA
5pm Wednesday 4 August
Australian National University
Molongolo Theatre,
J G Crawford Building
132 Lennox Crossing 0200
This event is FREE.
RSVP to
henry.keenan@anu.edu.auMELBOURNE
5:30pm Thursday 5 August
Melbourne University
Law Building (GM15 Theatre), 185 Pelham St Carlton
This event is FREE.
Register hereMore ideas from CPD & Pavan Sukhdev