The Value of Undeveloped Land

NPR's Marketplace reported recently on how the NJ DEP determined that the undeveloped land in New Jersey is, in fact, valuable as undeveloped land. While it was worth looking at just to see the name of the host, Kai Ryssdal (I heard it on the radio but never seen it written out), it was also interesting to see the quantification of the value of the landscapes. When asked about the value of the natural capital, the DEP's Bill Mattes said it was worth:

At least $26 billion a year worth of goods and services. And that $26 billion a year is worth about $850 billion in present value terms.

(The photo was taken by former RU student Jenna Paulowski)