Pluralism in the economics of sustainable forest management

Prevailing societal values have enthroned sustainable forest management (SFM) as a new paradigm governing forest practices. Calling for respecting a range of dynamic conditions instead of a single, static target, SFM differs from conventional forest management on account of its acceptance of plurality in management objectives, approaches and decision making processes. Forest economics has evolved accordingly, in response to the need for accommodating pluralism. This paper examines several issues of pluralism in the economics of SFM, principally: (i) multiple forest uses under extended forest rotations, (ii) the panarchy framework, and (iii) the stakeholder's approach. The merits and limitations of these approaches are discussed. The paper ends with some suggestions for future research.