Economics of Biodiversity: Geologic History, Global Climate Change, and Economic Growth

Running head: ECONOMICS OF BIODIVERSITY
ECONOMICS OF BIODIVERSITY
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1ECONOMICS OF BIODIVERSITY
Introduction
The geology of the earth has witnessed major events of extinction throughout the history.
The earth’s history covers an approximately 4 billion years and it includes the formation of earth
from the solar nebula to the present day condition. After the birth of the solar system, earth was
formed and it became a part of the solar system of which it was initially a part of. It is a widely
known fact and it has been accepted by astronomers and the geologists is an approximately 4.6
billion years old (Walker et al., 2013).
Geologic History of the Earth/Major Events
Geologic History of the Earth
The five major group of extinctions that are listed in the Sam Noble Museum are as
follows:
 End Ordovician- The condition of earth was warm and the conditions of humidity were
proper for living. However, towards the end of the period, about 443 million years ago
the geology of earth started to change. The continent Gondwana started to move towards
the south pole. The level of temperature dropped suddenly due to the formation of ice and
it even lowered the water level. The level of carbon dioxide dropped and in the sea as
well as in the atmosphere, this caused the decrease in the number of plants in the
ecosystem and source of food for the animals became scarce. Within the three million
years of 86 percent of the living beings disappeared. The organisms that got extinct are
the Bryozons, Acritarchs, Conodonts, Branchiopods, and Trilobites that lived in ocean
(Samnoblemuseum.ou.edu, 2019).

2ECONOMICS OF BIODIVERSITY
 Late Devonian- This extinction took place about 359 million years ago. The mass
extinction at this time period is caused by relentless meteor shower and it caused and
significant decrease in the levels of oxygen at the global level. Furthermore, the other
phenomenon that have occurred are the climate change and increased tectonic plate
activity. This has caused the death of 75 percent of living creatures. The extinction during
this period has extensively damaged the life in the sea which was dominated by the
stromatoporoids and corals (Samnoblemuseum.ou.edu, 2019).
 End- Permian- The extinction occurred at around 251 million years ago and it was during
the end of the Permian age. A new continent called Pangea was formed and it brought
immense changes to the geology, environment and climate of earth. For about 1 million
years, volcanic eruptions took place for over 300 million square kilometres of lava was
spread. This led to the formation of 1750 metres of sediments in the Siberian Traps. The
excessive eruptions led to burning of the forests and the area is about four times the size
of Korea. This led to the production of large amounts of carbon dioxide and caused the
global warming. Subsequently, the increased temperature melted the methane below the
sea and produced a warming effect that is more powerful than the carbon dioxide. It is
important to note that the effects of global warming lasted for about 10 million years.
About the95 percent of life perished and only 5 percent of the population sustained the
global warming effect. Massive drought was observed with the lack of oxygen and the
acid rain made it hard for the plants to survive. The organisms that got extinct are cladid
crinoids, Productid branciopods, goniatitic cephalopods, Rugose corals, Tabulate corals,
trilobites.