An intense debate is currently underway in the Pacific Northwest over whether remnant old-growth forests should be preserved or harvested. Old-growth forests can be viewed (1) as objects used instrumentally to serve human welfare or (2) as entities that possess value in themselves and are thus worthy of moral consideration. I compare the instrumental view suggested by economic analysis with the biocentric and ecocentric alternatives and suggest a reconciliation of these approaches in the context of old-growth preservation.