Ecosystem-based management and the wealth of ecosystems
Ecosystems store vast quantities of wealth, but difficulties measuring wealth held in ecosystems prevent its inclusion in accounting systems. Ecosystem-based management endeavors to manage ecosystems holistically. However, ecosystem-based management lacks headline indicators to evaluate performance. We unify the inclusive wealth and ecosystem-based management paradigms, allowing apples-to-apples comparisons between the wealth of the ecosystem and other forms of wealth, while providing a headline performance index for evaluating the performance of ecosystem-based management. We project that the Baltic Sea fishery ecosystem yields increasing stores of wealth over the next 50 y under the ecosystem-based management-inspired multispecies maximum sustainable yield management beginning in 2017, whereas the previous single-species management generally results in declining wealth.