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Since 1970, public employment has lagged behind private sector job growth, and government-owned capital assets have trailed those of the private sector.

The research goes beyond the environmental importance of mangroves, underscoring their economic value as natural capital assets.

This marks a turning point, with mangroves protecting 61 percent more people and safeguarding 109 percent more capital assets from floods in 2020 compared to a decade earlier.

Requiring large, expensive capital assets, it is hard hit by a tax which targets the value of assets rather than their profitability.

Since owners of capital assets don’t pay tax on their appreciation in value until they’re sold, they can defer the tax indefinitely by simply not selling.