It seems that human society needs to come to terms of co-operation at the organizational
level of planning as concerns local biological resources, without opting for destructive
competitive shared use of natural resources intra-temporarily or inter- temporarily. The conservation
of biodiversity and the use of traditional knowledge thus require that the institution
of capitalist society change and accommodate co-operation in the management of such resources
in the interest of a sustainable development process. The legal and institutional arrangements
also need to give due recognition to conservation as well as to equitable benefitsharing
from the use of such resources and the knowledge bases linked with them in the context
of modern society. The challenge facing the relevant policies would be to strike a balanced
role for local community organization and market to combine efficiency and equity in both the
economic and the ecological senses. The interdependence of ecological and social sustainability
thus needs to be recognized in both our analytic approach of the concerned scientific disciplines,
as well as in the formation of policies for development.