The Potential Contribution of Economics to the Recovery of Northeastern Forests

The textbook definition of the science of economics is the study of the allocation of scarce resources. Despite this rather broad definition, many non-economists regard economics as related only to cash flows. Consequently, they do not fully understand the role that the science of economics can play in the revitalization of the Northeastern forests. This paper discusses the potential contribution of the science of economics to the revitalization of forests, beginning with a discussion of the economic origins of the decline of the Northeastern forests. Next, the paper discusses the potential contribution of economics to the solution of the problem, through the development of policies to generate the revitalization and recovery of Northeastern forests.