What are some natural, social, economic and political impacts of wood/timber production biomes? 

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One major impact of lumber production is deforestation. In many areas, if forests are clear cut, the topsoil washes away, leaving badly eroded areas that may take centuries to regrow. Another major impact is on air quality, as trees, especially of tropical forests, remove carbon from the atmosphere.

Extreme poverty leads to slash and burn agriculture which involves clearing tracts of forest to produce cash crops or graze cattle. While in the short term, this benefits the owners of the land, in the long term, these lands undergo desertification. 

Another major global economic and political issue is that globalization has made it easier for multi-national companies to exploit forests in developing nations, often with the profits from destroying forests accruing mainly to large corporations or corrupt leaders, rather than the people living nearby in poverty, who lose the ability to hunt and gather. 

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