Financial Wisdom We Learn From Nature with Aaron Bott, Ep #25

As humans, when should we be concerned about our impact on nature? I think there is an argument to be made for balance. I respect animals and their role on this earth. I believe they have souls and a purpose just like humans. Today’s guest, Aaron Bott, is going to help us navigate the economic and ecological concerns of humans interacting with nature. Aaron is a Biologist and Doctorate Student at Utah State University studying wolves to promote human and carnivore coexistence. He is employed as a Regional Manager for the Utah Division of Wildlife Resources.You will want to hear this episode if you are interested in...Learn more about Aaron Bott and his role [2:34]How Aaron became interested in wolves [6:30]The conflict between wolf populations and ranchers [9:18] Analyzing the benefit versus the cost of wolf populations [13:51] Employing empathy for both wolves and ranchers [17:42]The economic cost of eradicating wolves in the US [20:05] How does humanity fit in with the equation? [23:11] The economic barrier to coexistence with nature [25:47] Humanity is starting to recognize change needs to happen [29:51] Why we struggle to coexist with animals [32:33] Why we can remain optimistic about coexistence [35:38] How Aaron became interested in wolf behavior and wildlife managementAaron’s family moved to the West in the mid-1800s. As Mormon pioneers, they came straight from Europe and settled in Utah. They’ve been there for 175 years—over 6 generations. Aaron’s family has ranched, farmed, and built railroads. Aaron thought he’d farm but as he went to college, he realized he lived in an amazing ecosystem.Wolves were reintroduced into Yellowstone when he was five. Growing up, they had many conflicts with bears. Aaron realized he wanted to work outdoors with large carnivores. His goal was to reduce conflict wherever possible. Humans need space and animals need space. Now, Aaron is a researcher that studies wolf behavior and ecology while also working full-time in Wildlife management. The research he does helps him understand the real world. Management is where they create regulations to protect, preserve, and manage wildlife according to human needs and what’s best for the environment. The conflict between wolf populations and ranchersAs Americans expanded westward, they brought their worldview with them. Because they practiced agriculture, they removed native herbivores from the landscape. Elk, bison, deer, etc. were removed so they could grow crops without interference. When people settled the remaining west, there were far more carnivores. The herbivores were replaced with livestock. Predators killing livestock became a serious concern for ranchers and the government. From 1915–36, the US effectively eradicated many carnivores, including grizzly bears, mountain lions, and wolves. Wolves used to live everywhere but they were systematically eradicated in almost all of the lower 48 states. Society’s values began to change and we realized we were destroying the environment. In 1974, The Endangered Species Act was created and wolves were listed as an endangered species. So the United States began the work to preserve the habitat of wolves. Wolves were reintroduced into Yellowstone in the 1990s. The economic cost of eradicating wolves in the USComplexities come from coexisting with large carnivores. But olves are important to helping the ecosystem function in a healthy way. If you have a predator on the landscape it influences how prey behaves and uses their resources. It creates a cascade of effects. We’ve removed a lot of predators and replaced them with domestic livestock that behaves differently than native species. They overeat the landscape which degrades the environment. Now that we’re realizing this, ranchers are working to try and figure out how to re-wild the landscape. Because if your land fails, your cows can’t eat. If your cows can’t eat, your ranch fails, and you’re out of a job. Large carnivores balance the environment, which creates a healthier economy. Humanity is starting to recognize change needs to happen Problems rise when we try to manipulate and alter the environment to our own advantage without considering the land and wildlife. We need to be good stewards of the land. We have to coexist with our own environment. If we’re not careful, we can break the system. We are meant to coexist but it takes innovative thinking. When we develop natural lands as quickly as we are and urbanize wild lands, that’s where conflict comes to a head. Land development is the biggest economic hindrance. At what point do we say we need to protect more habitats? What are we doing that isn’t working? What is damaging our environment? What can we do differently so every man and animal can profit? Listen to the whole episode for an interesting discussion about how nature impacts the economy in ways we don’t think of.Aaron Bott is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state. Resources & People MentionedYellowstone National ParkConnect With Aaron BottAaron’s University ProfileConnect on LinkedInFollow on InstagramConnect with Emerson FerschCapital Investment AdvisersOn LinkedInSubscribe to Upthinking FinanceAudio Production and Show Notes by - PODCAST FAST TRACK