Building on Spash's critiques of monetary valuation to suggest ways forward for relational values research

Rachelle K. Gould, Austin Himes, Lea May Anderson, Paola Arias Arévalo, Mollie Chapman, Dominic Lenzi, Barbara Muraca and Marc Tadaki
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Rachelle K. Gould: University of Vermont, Burlington, VT, USA
Austin Himes: Department of Forestry and Forest and Wildlife Research Center, Mississippi State University, Starkville, MS, USA
Lea May Anderson: School of Geography and the Environment, University of Oxford, Oxford, UK
Paola Arias Arévalo: Faculty of Social and Economics Sciences, Universidad del Valle, Cali, Colombia
Mollie Chapman: Department of Geography, University of Zurich, Zurich, Switzerland
Dominic Lenzi: Department of Philosophy, Faculty of Behavioural, Management and Social Sciences, University of Twente, Enschede, The Netherlands
Barbara Muraca: Department of Philosophy and Environmental Studies Program, University of Oregon, Eugene, OR, USA
Marc Tadaki: Cawthron Institute, Nelson, New Zealand

Environmental Values, 2024, vol. 33, issue 2, 139-162

Abstract: Scholars have critiqued mainstream economic approaches to environmental valuation for decades. These critiques have intensified with the increased prominence of environmental valuation in decision-making. This paper has three goals. First, we summarise prominent critiques of monetary valuation, drawing mostly on the work of Clive Spash, who worked extensively on cost–benefit analysis early in his career and then became one of monetary valuation's most thorough and ardent critics. Second, we, as a group of scholars who study relational values, describe how relational values research engages with and addresses many of the critiques of monetary valuation. Third, we offer suggestions for relational values research that continues and deepens its ability to respond to critiques of monetary valuation and contributes to transformative change towards sustainability.

Keywords: Decision-making; ecosystem services; environmental ethics; environmental valuation; monetary valuation; policy; value of nature (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envval:v:33:y:2024:i:2:p:139-162

DOI: 10.1177/09632719241231422

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