Natural history is a vast database useful for the discovery of new bio
logical resources and when the logic of evolutionary biology and ecolo
gy is applied to it, an extraordinary diversity of commercial applicat
ions are revealed. Examples show that organisms as unexpected as ants,
spiders and molluscs provide proven or potential resources for produc
ts as diverse as pharmaceuticals, high-tensile fibres and new construc
tion materials while lowly worms and wasps provide services from envir
onmental monitoring to biological control. These examples are the tip
of the iceberg and a branch of ecological economics is proposed to dev
elop the logical and systematic exploration of biodiversity for novel
products and services. While the primary reasons for the conservation
of biodiversity may be ethical and moral, the judicious use of natural
history clearly demonstrates that the economic imperatives for the co
nservation of all species are far greater than previously imagined.