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This book, based on interdisciplinary tradition of ecological economics, is an attempt to explore one of the most serious environmental problems of our time—soil erosion. Soil erosion has well been documented and researched by soil scientists and other ecologists but economic dimension remains in the periphery only. The book systematically analyses the response of economists to the problem of soil erosion in last 200 years. The analysis runs mainly in terms of absolute and relative scarcity. Both the arguments were examined with the help of a case study of Dehradoon Valley in India. This small valley in the foothills of Himalaya has witnessed severe soil erosion in recent years. In this book, erosion has been estimated by using Universal Soil Loss Equation (USLE), subsequently the loss has been evaluated economically by adopting resource value approach and productivity approach. In order to prevent the soil loss, conservation methods—mechanical and biological—have been evolved and subsequently, benefit cost analysis of soil conservation has been done which eminently justifies the conservation effort on efficiency criteria. However, the ground reality suggests differently. The happening in the field has been explained in terms of market and information failures. Finally, it has been suggested that instead of following the prescription of relative scarcity and the market, state has to come forward with concrete plan and investment to halt this problem of soil erosion.