You are both sort of right. Markets can contains incentives for conservation, but empirically have done a rather poor job of it. Part of the reason is undoubt

You are both sort of right. Markets can contains incentives for conservation, but empirically have done a rather poor job of it. Part of the reason is undoubtedly the fact that the investors as a collection of economically-rational-actors models is incorrect, but there may be more to it as well.