Written in a way that facilitates understanding of complex concepts, laws, and policy, Production, Growth, and the Environment: An Economic Approach explores how economic growth usually makes people better off, but also asks at what environmental cost? These costs are not often realized until after the fact, when their remediation is more expensive, and sometimes not reversible. Very few books on environmental economics model the joint production of desirable and undesirable outcomes in any depth. This book fills that void. It discusses the demographic transition and the escape from the Malthusian trap. It also covers the environmental Kuznets curve hypothesis that examines the relation between polluting outputs and economic welfare. The book integrates environmental valuation methods with the production possibility frontier (PPF) approach. It presents both types of outcomes in a PPF framework that accounts for scarcity and allows the concepts of technical and allocative efficiencies to be introduced and measured. The PPF can then measure technological progress/regress and can be used to measure whether resource use is sustainable over time. It can also be used to determine shadow prices for non-market desirable outputs such as ecological services and non-market undesirable by-products such as SO2, NOx, and CO2 that arise from fossil fuel combustion. The beauty of the PPF framework is that it can be depicted in simple two-dimensional diagrams that make the concepts easy to understand. The author uses this framework to introduce concepts such as technical efficiency, allocative efficiency, technological progress/regress, shadow pricing, externalities, public goods, pollution taxes, and permits. In addition, each chapter has numerous problems and discussion questions that provide examples and practice in using the introduced theories. The book also includes a chapter that shows how the solver routine in Excel can be used to measure technical and allocative efficiency. This gives you the tools to examine all outcomes and therefore make a decision that takes into account the environmental challenges along with any economic benefits.

As the United States continues its slow climb out of the Great Recession, it is important to focus on new directions to improve the standard of living in America. This book explores what is behind a faltering standard of living in the United States since the early 1980s and what can be done to restore it. The book is uniquely valuable in going beyond mainstream thinking about how to restore prosperity. Economics has traditionally equated economic growth (increases in per capita income) with improvements in quality of life and the standard of living. This book questions that assumption. The different chapters in the book show the standard of living as being more than income, to include many non-market aspects such as access to public goods (roads, clean air and water, schools, parks, and museums), intangible aspects of quality of life such as equity and a sense of community, and broadly based economic opportunities. This means that improving the standard of living is a multi-dimensional challenge rather than one of solely increasing aggregate demand, productivity, or GDP. This book embodies a pluralistic approach and draws on the expertise of a wide array of thinkers. The intended audience is for various courses offered in economics, sociology, political science, public policy programs, and in environmental and ecological studies.

Society today faces a difficult contradiction: we know exactly how the physical limits of our planet are being reached and exactly why we cannot go on as we have before and yet, collectively, we seem unable to reach crucial decisions for our future in a timely way. This book argues that our definition of prosperity, which we have long assimilated with the idea of material wealth, may be preventing us from imagining a future that meets essential human aspirations without straining our planet to the breaking point. In other words, redefining prosperity is a necessary and urgent task.

This book is the fruit of a long debate among fifteen scholars from diverse who worked together to bring the depth and nuance of their respective fields to questions that affect us all. The result is a rich, transdisciplinary work that illuminates the philosophical and historical origins of our current definition of prosperity; identifies the complex processes that gave rise to the problems we face today; elucidates the ways in which our contemporary environmental, social, nutritional, economic, political and cultural crises are interconnected; and explores why a half-century of economic growth has neither increased life satisfaction in the West nor vanquished world poverty. Approaching these broad-ranging questions from the specific standpoints of their disciplines, each of the authors offers thoughts for the future, considering possible escape routes and proposing changes to the way we live, behave, and organize society and public action changes that actually respond, in an equitable way, to our deepest aspirations.

Ultimately, in laying the groundwork for a public debate on this subject, this book poses a question to its readers: what is your definition of prosperity, and what can be done to promote it?"

This book highlights the latest advances in the science and practice of using ecosystem services to inform decisions for economic development in the context of the developing countries. The development of the ecosystem services paradigm has enhanced our understanding of natural capital as an indispensable form of capital asset along with produced and human capital. This book addresses what could be the possible pathways to mainstream natural capital assets into development policies and what is currently known about the economic values of ecosystem services. A series of innovative tools to help policy makers and planners account for natural capital and ecosystem services in sectoral and macroeconomic policies have been explored and their application at the national and regional scale has been demonstrated. Several detailed case studies are presented in which the understanding of ecosystem services values has successfully informed decisions, including examples from Chile, South Africa, Tanzania, Trinidad and Tobago, Vietnam and the Aral Sea in Central Asia. These provide the critically important insights, lessons learned and means and mechanisms for policy makers to incentivize protection and discourage degradation of ecosystems and the services they provide. Mainstreaming Natural Capital and Ecosystem Services into Development Policy is designed to help decision makers at all levels, including governments, businesses, multilevel development banks and individuals to integrate ecosystems and their services into their decision making.

Though scientists and environmentalists have long expressed concern over the rapid deterioration of the global environment, economists have largely failed to recognize the issue's relevance to their field. Salah El Serafy argues for an increased focus on the economic aspects of environmental degradation, calling for a fundamental shift in how economists measure and discuss national income. Through a combination of new material reflecting recent developments in the field and previously published essays that provide a history of green accounting, the author emphasizes the importance of considering natural resources as part of a nation's economic capital. Setting forth what has become known as the 'El Serafy Method', this fascinating and complex volume presents both the justification and the methodology for giving the environment a place in the global economic conversation. Students, professors, researchers and policymakers in the field of environmental and ecological economics will no doubt find much to appreciate in this thoughtful and comprehensive analysis of the intersection between economics and the environment.

Governing the Interlinkages between the SDGs: Approaches, Opportunities and Challenges identifies the institutional processes, governance mechanisms and policy mixes that are conducive to devising strategies of integrated Sustainable Development Goal (SDG) implementation. The book edited by Anita Breuer, Daniele Malerba, Srinivasa Srigiri and Pooja Balasubramanian examines the dedicated policies targeting the SDGs, as well as political and institutional drivers of synergies and trade-offs between the SDGs in selected key areas - both cross-nationally and in specific country contexts. Their analysis moves beyond the focus on links between SDG indicators and targets. Instead, the book takes advantage of recent evidence from the initial implementation phase of the SDGs and each chapter explores the question of which political-institutional prerequisites, governance mechanisms and policy instruments are suited to accelerate the implementation of the SDGs. The findings presented are intended to both inform high-level policy debates and to provide orientation for practitioners working on development cooperation. This volume will be of great interest to practitioners and policy makers in the field of sustainable development, as well as academics in the fields of sustainability research, political science, and economics.

This book focuses on participation of the public and private sectors in urban water management and on the role of water pricing. It discusses in-depth topics such as public choices of urban water service management; dynamics of privatization and regulation of water services; adoption of water demand instruments; impacts of price and non-price policies on residential water demand; quality of water services; lessons from not-for-profit public-private partnerships; and critical examinations of models and projections of demands in water utility resource planning in England and Wales. Appropriateness of water prices and tariffs in achieving socially desirable outcomes is also analyzed and a global survey of urban water tariffs is approached with a focus on sustainability, efficiency and fairness. This book was originally published as a special issue of the International Journal of Water Resources Management.

In recent years, there has been a marked proliferation in the literature on economic approaches to ecosystem management, which has created a subsequent need for real understanding of the scope and the limits of the economic approaches to ecosystems and biodiversity. Within this Handbook, carefully commissioned original contributions from acknowledged experts in the field address the new concepts and their applications, identify knowledge gaps and provide authoritative recommendations.The Handbook offers a wealth of case studies and further: - identifies the conceptual underpinnings of the economics of ecosystems and biodiversity - demonstrates new research methodologies and their applications - provides authoritative assessment of the recent results and findings in ecosystems services and biodiversity valuation and accounting - provides the reader with the state of the art of the research on the economics of ecosystem services and biodiversity - provides spatial explicit tools for mapping ecosystem services values for land-use planning, including in the context of business and industry. This authoritative assessment will appeal to researchers and academics at both the advanced undergraduate and post-graduate levels of environmental economics and ecological economics. Policy-makers in government, business and conservation sectors will find much to engage them as the work will prove essential for implementing effective response policies for the management of ecosystems and biodiversity. Contributors: P. Ala-aho, I. Anastasiou, J.Angulo-Valdes, V. Babalos, T. Badura, K.J. Bagstad, H.E. Balbach, E.B. Barbier, A.A. Batabyal, A. Bien, L.M. Brander, A. Catzim-Sanchez, H. Chen, W.W.L. Cheung, J.C. Cooper, J. Coria, G. Cucuzza, A.T. de Blaeij, T. Dedeurwaerdere, M. De Salvo, S. Di Falco, S.T.M. Dissanayake, A.K. Duraiappah, W.H Durham, R. Eskelinen, T. Figueredo Martin, P. Fong, M. Gemma, J.M. Gowdy, M. Honey, G.W. Johnson, T. Karjalainen, M. Kettunen, B. Kloeve, E. Kougea, P. Koundouri, P. Kumar, V.W.Y. Lam, G.-M. Lange, V. Linderhof, A. Markandya, J. Mate, L. Mazza, C. Mena, Y. Mitani, E. Naikal, D. Narita, S. Navrud, P. Nijkamp, P.A.L.D. Nunes, H. OEnal, R.R. Palatnik, C. Palmer, S. Parks, M. Pascual, M. Perez-Soba, F.Pina-Amargos, N.B.P. Polman, L. Pratt, M. Pulido-Velazquez, M.J. Punt, D. Quiroga, K. Rehdanz, S. Reinhard, K. Reinikainen, E. Robinson, P.M. Rossi, G. Samonte, A. Seidl, D. Semmens, M. Shechter, B. Shitovitz, G. Signorello, R.D. Simpson, G. Slean, H.G. Smith, R.B.W. Smith, T. Sterner, M. Stithou, U.R. Sumaila, D. Suman, R.T. Tawfik, P. ten Brink, R.S.J. Tol, R.K. Turner, M. van der Heide, E.C. van Ierland, P. Verweij, F. Villa, S. Waage, X. Wang, H.-P. Weikard, J.D. Westervelt, M. Winograd, S. Withana, S. Zemah-Shamir

It is increasingly evident that the conventional scientific approach to economic processes and related sustainability issues is seriously flawed. No economist predicted the current planetary crisis even though the world has now undergone five severe recessions primed by dramatic increases in the price of oil. This book presents the results of more than twenty years of work aimed at developing an alternative method of analysis of the economic process and related sustainability issues: it is possible to perform an integrated and comprehensive analysis of the sustainability of socio-economic systems using indicators and variables that have been so far ignored by conventional economists.

The book 's innovative approach aims to provide a better framework with which we can face the predicaments of sustainability issues. It begins by presenting practical examples of the shortcomings of conventional economic analysis and examines the systemic problems faced when trying to use quantitative analysis for governance. In providing a critical appraisal of current applications of economic narratives to the issue of sustainability, the book presents several innovative concepts required to generate a post-Newtonian approach to quantitative analysis in the Musiasem approach. An empirical section illustrates the results of an analysis of structural changes in world and EU countries. Finally, the book, using the insight gained in the theoretical and empirical analysis, exposes the dubious quality of many narratives currently used in the sustainability debate.

Overall, the performance of modern economies across different hierarchical levels of organization and across different disciplinary knowledge systems is fully analyzed and a more realistic measure of happiness and well-being is devised. The book should be of interest to researchers and students looking at the issue of sustainability within a variety of disciplines.

National Accounting Matrices of Environmental Accounts (NAMEA) tables are used to analyze a range of environmental pressures and economic data resulting from consumption and production patterns - helping us gain a far better notion of the consequences of individuals', households' and firms' actions for the world we live in. This book deals with the increasingly complex issues of hybrid environmental and economic accounts. The perspective of environmental accounting for the analysis of the relationships between the economic and environmental systems, especially regarding the satellite accounts like NAMEA, is relatively recent, and partly derives from the conceptual and applied deficits that have emerged during the setting up of green GDP or GNP measures as alternative measures of accounting. NAMEA provides a comprehensive and integrated picture of the economic system in association with the environmental system (physical pressures such as emissions) by a sector classification. This book is an integrated collection of complementary papers that revolve around the issue of environment-economic accounting In the first part a historical background and empirical issues related to the NAMEA-type table definitions and estimations open the book, followed by some applications and analyses mainly applied to a sub-national level. The second part opens the window to international case studies for different EU countries and studies with methodological insights. These policy-oriented, original works are primarily from an applied perspective, although theoretical aspects are also fully developed. The book should be of use to Environmental and Ecological economics students and researchers, as well as those studying the more general field of Environment studies.

The purpose of this collection of essays is to shed some light on the complex relationship between environmental quality and the distribution of income. Are the preferences of the poor towards a cleaner environment really different from those of the rich? Environmental economists have traditionally focused on efficiency issues. In their analyses the quality of the environment is usually related to aggregate or average variables, like per capita income; policy recommendations are usually formulated considering efficiency with no regard for equity and also the predicted effects of policies are evaluated in aggregate terms. The essays collected in this volume go into the problem of the relationship between environmental quality and income distribution. The book's opening essay shows how different theories of economic growth and environmental quality seem to suggest that the higher the level of income the higher is the value of environmental protection. The essays that follow, a mix of already published papers and of papers solicited for this book, analyse the relationship between environmental quality and income distribution from different perspectives (both micro and macro) and on the basis of more than one methodology. This book highlights that the preferences of the poor towards a cleaner environment may differ from those of the rich, but income is also very likely to represent only one factor affecting them. The essays consider other relevant factors affecting preferences for environmental quality. What clearly emerges is that the distribution of costs and benefits of environmental policies is the key for their successful implementation, and that further research is needed to both address the distributional effects themselves and the strategies to mitigate them.

The interlinked issues of air pollution and energy policies in an enlarged Europe are currently subjects of major interest in economic, environmental, geography and regional sciences. This interest is understandable given the considerable consequences on human health and on climate change issues at not only a European, but a global level. In addition, the recent effects of economic fluctuation and oil prices as well as the actual restructuring of the European energy supply and security market raise a great deal of policy challenges. These issues have become an increasingly relevant concern, as the optimal design of policy by centralised European institutions has come under greater scrutiny.

This book presents an integrated approach to recent regulations on air pollution with particular emphasis on transborder air pollution, climate change and energy policies in the new Europe. This integrated vision embraces the extent to which global pollution influences policy decisions at different institutional levels; the magnitude, by virtue of policy simulation analysis, of environmental policy tools (i.e. environmental taxes) on aggregate welfare and transboundary air emissions fluxes in light of the recent enlargement process; the European Trading System and its flexible mechanisms to curb carbon emissions and fulfil the European Union Kyoto Protocol s commitments; and the developments of the new European energy strategy and its interdependencies across energy requirements, innovation, competitiveness and climate change.

The book is primarily aimed at Postgraduates and Postdoctoral research students in economics, environmental economics, environmental sciences, or environmental policy disciplines. However, it should also be of interest to environmental economists, energy policy analysts, members of governmental and non-governmental agencies dealing with environmental policy, climate change or air pollution."

As demand for fresh water rises, together with population, water scarcity already features on the national security agenda of many countries. In this book, Dinardevelops a theory to explain solutions to property rights conflicts over shared rivers. Through systematic analysis of available treaty texts, corresponding side-payment and cost-sharing patterns are gleaned. Geographic and economic variables are used to explain recurring property rights outcomes.

Rather than focusing on a specific river or particular geographic region, the book analyzes numerous rivers, dictated by the large number of treaty observations, and is able to test several hypotheses, devising general conclusions about the manner in which states resolve their water disputes. Policy implications are thereby also gained. While the book simultaneously considers conflict and cooperation along international rivers, it is the focus on negotiated agreements, and their embodied side-payment and cost-sharing regimes, that justifies the use of particular independent variables.

Why are old technologies persisted with after better alternatives have been invented? This book examines this question, a central concern of evolutionary economics, specifically focusing on renewable energy technologies. The concept of path dependence is used to analyse why and how technological development can become locked-in to inefficient ways of doing things. This book shows how lock-in can be avoided by the creation of new technological pathways. The chapters focus on the comparatively recent introduction of new wind turbine technologies for the generation of carbon free electricity. This case study provides valuable lessons in understanding the issues confronting inventors attempting to commercialise their new ideas in the form of innovations in the face of historically established conventional technologies. It is also set within the critical debate on climate change and the need to de-carbonise energy supplies in order to stop further man-made deterioration in the global environment. This book was originally published as a special issue of European Planning Studies.

Why is it that market instruments have not been used to their full potential in environmental policy? Using a public choice perspective, this book critically analyses the political economy of environmental policy with special emphasis on the role of powerful interest groups which have blocked the introduction of market instruments.Drawing on new case studies of market instruments, Dr Dijkstra examines the attitudes of interest groups and how they influence environmental policy. He discusses the preferences of shareholders and workers in the polluting industry, the environmental movement and the environmental bureaucracy. He then investigates the circumstances under which market instruments will have low or no probability of being accepted, assuming that they are welfare-maximizing. The Political Economy of Environmental Policy will be of interest to environmental and ecological economists, policymakers, political scientists and public choice scholars.

The monetary valuation of environmental goods and services has evolved from a fringe field of study in the late 1970s and early 1980s to a primary focus of environmental economists over the past decade. Despite its rapid growth, practitioners of valuation techniques often find themselves defending their practices to both users of the results of applied studies and, perhaps more troubling, to other practitioners. One of the more heated threads of this internal debate over valuation techniques revolves around the types of data to use in performing a valuation study. In the infant years of the development of valuation techniques, two schools of thought emerged: the revealed preference school and the stated preference school, the latter of which is perhaps most associated with the contingent valuation method. In the midst of this debate an exciting new approach to non-market valuation was developed in the 1990s: a combination and joint estimation of revealed preference and stated preference data. There are two primary objectives for this book. One objective is to fill a gap in the nonmarket valuation "primer" literature. A number of books have appeared over the past decade that develop the theory and methods of nonmarket valuation but each takes an individual nonmarket valuation method approach. This book considers each of these valuation methods in combination with another method. These relationships can be exploited econometrically to obtain more valid and reliable estimates of willingness-to-pay relative to the individual methods. The second objective is to showcase recent and novel applications of data combination and joint estimation via a set of original, state-of-the-art studies that are contributed by leading researchers in the field. This book will be accessible to economists and consultants working in business or government, as well as an invaluable resource for researchers and students alike.

Our current economic systems have become addicted to growth at all costs, as measured by Gross Domestic Product (GDP). They assume that GDP growth is synonymous with increased wellbeing and prosperity. However, this approach has led to growing inequality, an escalating climate crisis, and the depletion of natural and social capital. Our approach to economics and development needs to be fundamentally transformed. New Challenges for Future Sustainability and Wellbeing is a collection of 25 studies about sustainability and the related challenges, such as income, wealth, social aspects, the environment, education and regional equality that influence the pace of economic development and deteriorates well-being of people and organisations all over the world. This book provides a platform for scholars, researchers and professionals from different disciplinary backgrounds to discuss, highlight and exchange ideas on these challenges and prospects for both economic and business development.

Non-market valuation has become a broadly accepted and widely practiced means of measuring the economic values of the environment and natural resources. In this book, the authors provide a guide to the statistical and econometric practices that economists employ in estimating non-market values.The authors develop the econometric models that underlie the basic methods: contingent valuation, travel cost models, random utility models and hedonic models. They analyze the measurement of non-market values as a procedure with two steps: the estimation of parameters of demand and preference functions and the calculation of benefits from the estimated models. Each of the models is carefully developed from the preference function to the behavioral or response function that researchers observe. The models are then illustrated with datasets that characterize the kinds of data researchers typically deal with. The real world data and clarity of writing in this book will appeal to environmental economists, students, researchers and practitioners in multilateral banks and government agencies.

It is increasingly recognized that the economic value of forests is not merely the production of timber. Forests provide other key ecosystem services, such as being sinks for greenhouse gases, hotspots of biodiversity, tourism and recreation. They are also vitally important in preventing soil erosion and controlling water supplies, as well as providing non-timber forest products and supporting the livelihoods of many local people. This handbook provides a detailed, comprehensive and broad coverage of forest economics, including traditional forest economics of timber production, economics of environmental role of forests, and recent developments in forest economics. The chapters are grouped into six parts: fundamental topics in forest resource economics; economics of forest ecosystems; economics of forests, climate change, and bioenergy; economics of risk, uncertainty, and natural disturbances; economics of forest property rights and certification; and emerging issues and developments. Written by leading environmental, forest, and natural resource economists, the book represents a definitive reference volume for students of economics, environment, forestry and natural resource economics and management.

How should we conduct economics in an era of climate change, natural resource depletion and population increase? These issues are systemic, and involve great uncertainties and long time horizons. This book contends that the free-market economics that has dominated capitalist democracies in recent decades is not up to the task; that the welfarist economics that preceded it, while preferable, also has inadequacies; and that what is required is an economics founded on ecological principles, greater respect for the laws of natural science, and a moral commitment to a sustainable future. The book commences with an exposition of major aspects of orthodox macroeconomic and microeconomic theory. It then explores the bounds of orthodox theory in relation to ethics, liberalism, ideology, society, the international economy, globalization, and the environment, and seeks lessons for a future economics. Issues raised by natural resource use and climate change are given particular prominence. Many of the issues of critical importance in coming decades involve not private goods but public goods: goods which markets are ill-equipped to deal with. In the resolution of these issues political processes will need to be engaged. The availability to each individual of clean air, clean water and adequate sustenance, goods which cannot be provided for by economic production alone, are of central concern. While acknowledging the importance of market processes, the author argues in favour of a more deliberative and democratic economy, the greater engagement of civil society, environmental human rights and responsibilities, and in favour of a World Environment Organization, change in the conduct of the World Trade Organization, and for economists to accept moral responsibility for the policies they advocate. Specific case studies are given and potential policies outlined. This book will be of interest not only to economists but also to citizens generally and students concerned with public affairs.

Climate change is without question the single most important issue the world faces over the next hundred years. The most recent scientific data have led to the conclusion that the globally averaged net effect of human activities since 1750 has been one of warming and that continued greenhouse gas emissions at or above current rates would cause this process to continue to the severe detriment of our environment. This unequivocal link between climate change and human activity requires an urgent, world-wide shift towards a low carbon economy and coordinated policies and measures to manage this transition. The starting point and core idea of this book is the long-held observation that the threat of climate change calls for a change of climate in economics. Inherent characteristics of the climate problem including complexity, irreversibility and deep uncertainty challenge core economic assumptions and mainstream economic theory appears inappropriately equipped to deal with this crucial issue. Kevin Marechal shows how themes and approaches from evolutionary and ecological economics can be united to provide a theoretical framework that is better suited to tackle the problem.

It is an unfortunate truth that our oceans offer valuable resources that are too often used unsustainably. Time and again this is due to the failure of international law to provide a framework for adequate governance. Economics of the Oceans examines this issue and provides a comprehensive study of ocean uses from the perspectives of law and economics. Themes covered in the book include ocean governance, the economics of oceanic resource exploitation, offshore oil, coral reefs, shipwrecks and maritime piracy. Analytical techniques such as basic game theory, environmental economics of the commons and cost-benefit analysis are employed to illuminate the topics. This book will be of interest to students of environmental economics, natural resource economics and management, and the economics of international law as relating to the oceans.

It is an unfortunate truth that our oceans offer valuable resources that are too often used unsustainably. Time and again this is due to the failure of international law to provide a framework for adequate governance. Economics of the Oceans examines this issue and provides a comprehensive study of ocean uses from the perspectives of law and economics. Themes covered in the book include ocean governance, the economics of oceanic resource exploitation, offshore oil, coral reefs, shipwrecks and maritime piracy. Analytical techniques such as basic game theory, environmental economics of the commons and cost-benefit analysis are employed to illuminate the topics. This book will be of interest to students of environmental economics, natural resource economics and management, and the economics of international law as relating to the oceans.

To understand China's climate change policy is not easy, as the country itself is a paradox actor in global climate political economy: it used to take very suspicious stand on the scientific certainty of climate change, but recently it has become a signatory and firm supporter of the Kyoto Protocol; it stubbornly refuses to accept any emission cutting obligations, but has gradually taken the lead in developing renewable energies and carbon trading business; it accuses western countries of their hypocrisy and irresponsibility, but ironically maintains close cooperation with them on low-carbon projects; it fears climate mitigation commitments may hamper the economic growth, but meanwhile spends most lavishly on the research and development of clean energy and other green technologies. This book, unlike other researches which explain China's climate policy from pure economics or politics/foreign policy perspectives, provides a panoramic view over China's climate-related regulations, laws and policies as well as various government and non-government actors involved in the climate politics. Through analyzing the political and socioeconomic factors that influence the world's largest carbon emitter's participation into the global collective actions against climate change, the book argues that as a vast continental state with a mix of authoritarian politics and a quasi-liberalised market economy, China's climate policy process is fragmented and self-defensive, seemingly having little room for significant compromises or changes; yet in response to the mounting international pressures and energy security concerns and attracted by lucrative carbon businesses and clean energy market, the regime shows some sort of better-than-expected flexibility and shrewdness in coping with the newly-emerged challenges. Its future climate actions, whether effective or not, are vital not only for the success of the global mitigation effort, but for China's own economic restructure and sustainable development. The book is a unique research monograph on the evolving domestic and foreign policies taken by the Chinese government to tackle climate change challenges. It concludes that instead of being motivated by concern about its vulnerability to climate change, Chinese climate-related policies have been mainly driven by its intensive attention to energy security, business opportunities lying in emerging green industries and image consideration in the global climate politics.

Do you really think you are getting a good deal when given that free mobile phone for switching service providers, if a multinational retailer undercuts its competitors or by the fact that food is relatively cheaper today in many countries than ever before? Think again! As Michael Carolan clearly shows in this compelling book, cheapness is an illusion. The real cost of low prices is alarmingly high. It is shown for example that citizens are frequently subsidising low prices through welfare support to poorly-paid workers in their own country, or relying on the exploitation of workers in poor countries for cheap goods. Environmental pollution may not be costed into goods and services, but is paid for indirectly by people living away from its source or by future generations. Even with private cars, when the total costs of this form of mobility are tallied it proves to be an astronomically expensive model of transportation. All of these costs need to be accounted for. The author captures these issues by the concept of "cheaponomics". The key point is that costs and risks are socialised: we all pay for cheapness, but not at the point of purchase. Drawing on a wide range of examples and issues from over-consumption and waste to over-work, unemployment, inequality, and the depersonalising of communities, it is convincingly shown that cheapness can no longer be seen as such a bargain. Instead we need to refocus for a better sense of well-being, social justice and a balanced approach to prosperity.