Chopping down rainforests is daft. The social costs of clearing a typical patch of Brazilian Amazon are perhaps 30 times the benefits of rearing cows on it, by one estimate from 2023. The problem is, those costs, which include aggravating climate change, are spread across the entire world’s population, whereas the profits from cutting down the trees go to the men commanding the chainsaws. Somehow, the world has to find a way to make conservation pay. …Yet there is hope. Though Brazil lost more rainforest than any other country last year, due to to wildfires, it also shows how better policy can make a difference. …The pace of deforestation fell by 80% during Lula’s first terms (2003-11), and fell again when he returned in 2023, before the wildfires set things back. …Since preserving rainforests is a global public good, the world should help pay for it. [to access the full story an Economist subscription is required]