ABSTRACT
This chapter explains the important ecological and economic implications of biodiversity loss. Ecosystems generate ecological resources and services that are crucial for human welfare. Biodiversity at genetic, species, population and ecosystem levels contributes in maintaining these resources and services. The theory of ecological succession is well known in ecology. It describes the development of ecosystems from colonization to mature or so-called climax stages. Buzz Holling has described ecosystem behaviour as the dynamic sequential interaction between four system functions: exploitation, conservation, release and reorganization. The principal ecological importance of biodiversity must therefore be its role in preserving ecosystem resilience. The inter-generational equity considerations raised by the biodiversity problem ultimately point to fundamental concerns over sustainable development. Biodiversity conservation, ecological sustainability and economic sustainability are inexorably linked; uncontrolled and irreversible biodiversity loss ruptures this link and puts the sustainability of our basic economic-environmental system at risk.
