"Charting a New Path along the Environmental Policy Tightrope: Including and Rewarding Stakeholders without Giving Away the Farm"
Whereas command-and-control approaches to environmental law and policy are out of fashion due to their alienating effects on stakeholders, neoliberal market-based approaches can also be critiqued for gifting rights without sufficient responsibilities, and for perverting stewardship norms and motivations. Is there another possibility? I argue there is, a relational approach that involves actively recruiting landowner and industry stewardship and agency, pursuing fairness and right relationships with stakeholders even at the expense of small-scale efficiency. At larger spatial scales and over longer durations, a relational approach may achieve both efficiency and effectiveness, safeguarding species while transforming the economy. I illustrate this through endangered species legislation and associated market-based tools like mitigation banking and so-called incentive programs.