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Reconnecting Markets with Nature: An Earth Day Talk with Renowned Financial Economist Ralph Chami (part 1 of 2)
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What if we could see the invisible? The magnificent blue whale, stretching 110 feet long through ocean depths, remains completely invisible to our economic systems—until it's killed. In this profound Earth Day conversation with Ralph Chami, we discover how reconnecting our market systems with living nature might be our most powerful tool for planetary healing.
Chami draws from his 32 years as a financial economist, including 25 at the International Monetary Fund, to explain the fundamental disconnect between our nature system and market system. While markets expertly value dead nature—oil, timber, harvested fish—they remain blind to living nature's immense worth. This blindness stems from catastrophic assumptions made during the Age of Reason: that nature is infinite, mechanical, and soulless.
Through groundbreaking research on whales, forest elephants, and seagrass meadows, Chami demonstrates how living ecosystems provide astonishing financial value. When tiger sharks wearing cameras mapped the Bahamas seagrass—revealing meadows worth potentially $150 billion—it transformed how this small island nation viewed its natural assets. Rather than destroying nature for short-term gain, vulnerable communities worldwide are discovering sustainable prosperity through conservation.
Climate change requires both reducing emissions ("shutting the valve") and removing existing atmospheric carbon ("draining the tub"). Nature restoration offers our most powerful carbon capture technology, creating economic opportunities that align financial and ecological interests. From Native American bison restoration to Polynesian whale protection initiatives, Chami shares inspiring projects creating virtuous cycles of environmental and community well-
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Chapters
1. Introduction to Ralph Chami (00:00:00)
2. Nature System vs. Market System (00:04:32)
3. The Value of Nature Living for Itself (00:09:56)
4. Seagrass: The Trillion Dollar Ecosystem (00:17:54)
5. The Carbon Tub: Why Emissions Aren't Everything (00:28:00)
6. Creating Nature Markets and Indigenous Partnerships (00:37:04)
7. Closing and About Ralph Chami (00:53:38)
37 episodes
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