This document is based on an extensive review of literature and policies. Two main points are made. First, pastoral systems are emblematic of farming systems that work with nature: they have evolved to function with the natural environment and therefore with variability. Second, pastoral systems have been looked at through the wrong “lens”: conventional modelling and economic analysis of livestock production are locked into a view of the animal in isolation from the natural environment, and of variability as a constraint. This has contributed to the misreading of pastoralism and its potential.