This manual offers a detailed, up-to-date explanation of how to carry out economic valuation using stated preference techniques. It is relevant for the application of these techniques to all non-market goods and services including air and water quality; provision of public open space; health care that is not sold through private markets; risk reduction policies and investments not provided privately; provision of information as with the recorded heritage, the protection of cultural assets and so on. The resulting valuations can be used for a number of purposes including, but not limited to, demonstrating the importance of a good or service; cost-benefit analysis; setting priorities for environmental policy; design of economic instruments; green national/corporate accounting, and natural resource damage assessment. Compiled by the leading experts in the field, this manual starts by explaining the concepts. It shows how to choose the most appropriate technique and how to design the questionnaires. Detailed advice on econometric analysis is provided, as well as explanation of the pitfalls that need to be avoided.

This book explores a series of connected themes focused on the role economics and other influential forms of theory and thinking have played in creating the current predicament and the scope for alternatives and how they might be framed. Thirty years have passed since the inception of the United Nations Framework Convention on Climate Change (UNFCCC) and the beginning of policy on climate change. Thirty wasted years. To most politicians, long-term collective interest has been denominated in meaningless units of time, a never and forever that has continually delayed action. From complacency has come potential disaster, and we are now living in a time of climate emergency and ecological breakdown. The next decade is a pivotal period requiring fundamental change. But numerous impediments remain. Continual material, energy and economic growth on a planetary scale are manifestly impossible, and yet economic theory takes these as a given and political leadership and policy seem unwilling to accept brute reality. Instead, they offer a series of implausible commitments and pledges rooted in technofixes, without addressing the fundamental drivers of the problems the world faces. The edited volume explores the issues and offers a variety of ways to think through the problems at hand, from postgrowth, degrowth and social ecological economics to policy assemblage and transversalism. The chapters in this book were originally published in the journal Globalizations.

In this edited volume, the leading scholars in the field engage with consumers, marketers, corporations and policymakers as well as space dynamics and network formation to provide an in-depth examination of anti-consumption: a voluntary behavioural inclination to minimise rather than grow, to decelerate and simplify and to reduce the unnecessary exploitation of resources fuelled by consumer culture. This book does not place anti-consumption on the high moral ground but rather demonstrates its complexity to spur innovative and critical thinking on how people, organisations, businesses and governments can treat consumption more as a necessity for survival than as a tool for self-expression, pleasure and economic growth. The first part of this book looks at anti-consumption from a diversity of perspectives. It analyses voluntary simplicity, a self-motivated engagement in consumption reduction, and boycotting, a politically-motivated reaction against unacceptable corporate practices, as distinct manifestations of anti-consumption that nonetheless remain rooted in the logic of the market. Paving the way to critical perspectives on the interface between anti-consumption, people and the environment, the second part of the book projects anti-consumption to issues of waste production and provides possible answers to global challenges of resources depletion, social inequalities and global warming. In this section, anti-consumption is critically assessed as an actor of change, both in terms of social change and paradigm change. To move the field forward, the third part of this book presents several theoretical frameworks that help set a roadmap for future research. Anti-Consumption will be of direct interest to scholars and researchers within the fields of marketing, consumer research, business studies, environmental studies and sustainability. It will also be of value to those researching the economics and/or sociology of markets.

This book enlarges our understanding of economic development by bringing together items or aspects of historical experience relevant to the present-day problems of developing countries; by looking at the problems over a longer period than is usual in development economics, so that the influence of underlying forces may be made evident; and by comparing the experiences of different countries in similar situations.
A variety of countries are dealt with and most of the significant problems in development economics are covered in one context or another. The authors of this symposium, each an internationally acknowledged authority, offer expert assessments of development as it has actually taken place. The chapter by Professor Rosovsky shows what is significant, what is peculiar and what could be imitated in Japan; Professor Black takes the little-studied case of Ireland, and Dr Macpherson gives an informed and balanced account of Indian development. This unique book was first published in 1972.

In recent years climate change has become a leading issue on both the business and political agenda. With the Kyoto Protocol to the UN Framework Convention on Climate Change now ratified, business is bracing itself for the reality of serious regulation on the reduction of greenhouse gas emissions."The Business of Climate Change" presents a state-of-the-art analysis of corporate responses to the climate change issue. The book describes and assesses a number of recent business approaches that will help to identify effective strategies and promote the dissemination of proactive corporate practices on climate change worldwide. By identifying the factors that cause companies to pursue low-carbon strategies and support the Kyoto process, the book will also be helpful to governments in formulating policy.Business and industry have a crucial role to play in the implementation of the Kyoto Protocol. They are major emitters of greenhouse gases, and pressure is mounting for them to engage in a range of mitigation strategies, from emission inventorying and trading schemes to investments in low-carbon technologies. Behind the scenes a number of companies have started to develop strategies to curtail greenhouse gas emissions.These strategies can be very diverse in nature. At a political level, companies try to influence policy implementation and, more specifically, to test ideas in anticipation of possible regulation on the climate change issue. At a more practical level, there are a burgeoning number of initiatives to conserve energy use in production, transportation and buildings, to develop renewable sources of energy, to measure carbon emissions and sequestration at a detailed level, and to develop various markets for trading carbon credits among companies and countries. Some technologies, such as hybrid cars and compact fluorescent lighting, are now market realities.Common to all of these initiatives is that they operate in an environment of high complexity and uncertainty. The political implementation of the Kyoto Protocol remains uncertain and many details remain unspecified. Economic instruments such as emission trading are favored, but their mechanisms are still hotly debated and the future price of credits is unknown. New markets for low-emission products and technologies are beginning to appear, but there are currently few regulatory drivers to assist their development. The impact of potential regulation on business will vary tremendously between companies and sectors. The fossil fuel and energy sectors fear the economics of action, while sectors such as insurance and agriculture fear the economics of inaction. Combined with the remaining uncertainties about what form climate change may take, corporate responses to reduce risks have to differentiate between sectors and have to be flexible. For individual companies, these big uncertainties demand new thinking and contingency planning."The Business of Climate Change" is split into four sections: 'Introduction and overview' presents a broad perspective on business and climate policies. 'Policy instruments' outlines early experiences with different types of policy instruments to curb greenhouse gas emissions, ranging from emission trading to voluntary agreements. 'Sector analysis' assesses developments within sectors of industry that are likely to play an important role in future climate policies: oil, cement, chemical, automotive and insurance. Finally, 'Case studies' discusses bottom-up initiatives to combat climate change in five different organizations.This book will be essential reading for policy-makers searching for instruments that have proven business support; academics and researchers analyzing the complexity of how business is responding to the challenge of climate change; and businesses wishing to learn about best practice in the sectors most likely to be seriously affected.

Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It's time for MPT to evolve. The authors propose a new imperative to improve finance's ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. "Moving beyond MPT" recognizes the complex relations between investing and the systems on which capital markets rely, "Investing that matters" embraces MPT's focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors. Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant. Its bold critique shows how the real world already is moving beyond investing orthodoxy.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world?s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. 'Ecological economics has roots in numerous disciplines including various branches of economics, ecology, physics, systems analysis and the study of technology. In his succinct Advanced Introduction to Ecological Economics, Matthias Ruth shows how each of these lines of intellectual inquiry has contributed to the development of ecological economics. He covers its history, main findings and current issues closing with a valuable discussion of complexity and the challenges for analysis and management in a full world.' - Peter A. Victor, York University, Canada Any human endeavor is shaped by, and shapes, changes in the physical and biological environment. In this Advanced Introduction, Matthias Ruth draws on a diverse set of theories, methods and applications to critically assess key concepts in ecological economics. Understanding biophysical foundations of economic growth and development is at the core of ecological economics. The author provides a precise introduction to the interdependencies between economic and environmental change, focusing on the fundamental dependence of the economy on the environment, as a provider of energy, materials and waste assimilation services. Key features include:? an advanced introduction to theories, methods and applications of ecological economics that are reflective rather than enumerative? clarification of the differences between traditional resource and environmental economics? valuable insights from the Global South as well as from experiences in industrialized countries to explore the topic in depth. Offering a unique insight into a field that is still in its formative years of development, this concise and accessible Advanced Introduction will greatly benefit students, researchers and instructors in environmental science and ecological economics.

This handbook showcases the broad spectrum of diverse approaches to environmental accounting which have developed during the last 30 years across the globe. The volume covers a range of physical issues such as water, carbon and biodiversity, as well as specific accounting matters such as management control, finance and audit. Moreover, seven chapters present environmental accounting issues that arise in the regions of Africa, Asia, Europe, MENA, North America, the Pacific and South America. The handbook also highlights future challenges in all the topic areas addressed as well as introducing new topics, such as links between environmental accounting and the circular economy, and the issues associated with animal rights. Edited by leading scholars in the area and with key contributions from across the discipline, and covering a diverse range of perspectives and locations, the volume is divided into five key parts: * Part 1: Framing the issues * Part 2: Financial accounting and reporting * Part 3: Management accounting * Part 4: Global and local perspectives * Part 5: Thematic topics in environmental accounting This handbook will act as a significant publication in drawing together the history of the field and important reference points in its future development, and will serve as a vital resource for students and scholars of environmental accounting and environmental economics.

In response to the damage caused by a growth-led global economy, researchers across the world started investigating the association between environmental pollution and its possible determinants using different models and techniques. Most famously, the environmental Kuznets curve hypothesizes an inverted U-shaped association between environmental quality and gross domestic product (GDP). This book explores the latest literature on the environmental Kuznets curve, including developments in the methodology, the impacts of the pandemic, and other recent findings. Researchers have recently broadened the range of the list of drivers of environmental pollution under consideration, which now includes variables such as foreign direct investment, trade expansion, financial development, human activities, population growth, and renewable and nonrenewable energy resources, all of which vary across different countries and times. And in addition to CO2 emissions, other proxies for environmental quality – such as water, land, and ecological footprints – have been used in recent studies. This book also incorporates analysis of the relationship between economic growth and the environment during the COVID-19 crisis, presenting new empirical work on the impact of the pandemic on energy use, the financial sector, trade, and tourism. Collectively, these developments have improved the direction and extent of the environmental Kuznets curve hypothesis and broadened the basket of dependent and independent variables which may be incorporated. This book will be invaluable reading for researchers in environmental economics and econometrics.

In their pursuit of policies to combat global warming, countries will find that they may also receive additional benefits which are not directly associated with the primary aim. These ancillary benefits are likely to include, for example, a reduction in pollution as a result of carbon containment policies. International Climate Policy to Combat Global Warming is one of the first books which analyses climate policy, taking account of ancillary as well as primary benefits. The author integrates ancillary benefits into the theory and explores the implications for international policy measures. Because of the private character of ancillary benefits, the author is able to treat climate policy as an impure public good which in turn has an impact on the efficient climate protection level. He highlights the general failures of the standard approach to climate policy design and goes on to propose a new approach to international negotiations on climate change. He suggests a flexible matching scheme which would help overcome free-rider incentives and which would have considerable advantages over traditional co-operative designs. By proposing a novel framework for the analysis of, and solution to, the problem of global warming, this book will be welcomed by environmental and ecological economists, policymakers and researchers of political science.

Little is known about the volume of international recycling in Asia, the problems caused and the struggle to properly manage the trade. This pathbreaking book addresses this gap in the literature, and provides a comprehensive overview of the international trade flow of recyclable waste in Asia and related issues. The expert contributors discuss the various types of recyclable waste that Asian countries import, and illustrate that there are consequently higher numbers of cheaper informal recyclers with lower pollution control costs than formal recyclers with more expensive but environmentally sound technologies. They explore how governments across China, Vietnam, South Korea and Japan are therefore struggling to minimize the negative impact from informal recycling via trade regulation of recyclable and hazardous waste and comprehensive cooperation mechanisms to promote efficient use of resources. Preventive measures against illegal and/or improper transboundary movement of hazardous waste in Asia are also analyzed. This unique and fascinating book aims to facilitate a common understanding of the issues caused by international recycling in Asia to encourage effective international and regional cooperation in order to establish a sound recycling system. As such, it will prove an invaluable resource to academics, researchers and students with an interest in Asian studies, economics, environmental studies, international economics and industrial economics. Contributors: V. Atienza, S. Chung, M. Kojima, E. Michida, S. Sakata, S. Sasaki, T. Terao, J. Tsuruta, A. Yoshida

This book compares water allocation policy in three rivers under pressure from demand, droughts and a changing climate: the Colorado, Columbia and Murray-Darling. Each river has undergone multiple decades of policy reform at the intersection of water markets and river basin governance - two prominent responses to the global water crisis often attempted and analyzed separately. Drawing on concepts and evidence about property rights and transaction costs, this book generates lessons about the factors that enable and constrain more flexible and sustainable approaches for sharing water among users and across political jurisdictions. Despite over 40 years of interest in water markets as a solution to water scarcity, they have been slow to develop. Intensified competition has also stimulated interest in river basins as the ideal unit to manage conflicts and tradeoffs across jurisdictions, but integration has proven elusive. This book investigates why progress has been slower and more uneven than expected, and it pinpoints the principles and practices associated with both successes and failures. Garrick synthesizes theoretical traditions in public policy and institutional economics, to examine the influence of path dependency and transaction costs on water allocation reform. Using evidence from historical sources, public policy analysis and institutional economics, the book demonstrates that reforms to water rights and transboundary governance arrangements must be combined and complementary to achieve lasting success at multiple scales. The original approach of this book, and its comparison of three prominent sites of reform, makes it an asset to practitioners of water policy, as well as water governance scholars and academics in public policy and economics who are focused on environmental policy, property rights and institutional change.

Consensus is growing internationally that traditional command-and-control approaches to environmental regulation have borne much of their low-hanging fruit. Yet it is far from clear what should complement or replace them. Regulatory agencies and policy-makers are struggling with a lack of information about regulatory reform, about what works and what doesn't, and about how best to harness the resources of both government and non-government stakeholders. Progress is being impeded unnecessarily by a lack of shared knowledge of how similar agencies elsewhere are meeting similar challenges and by a lack of data on the success or otherwise of existing initiatives. Despite recent and valuable attempts to deal with such problems in the European Union and North America, these remain islands of wisdom in a sea of ignorance. For example, when it comes to dealing with small and medium-sized enterprises, very little is known, and what is known is not effectively distilled and disseminated. Much the same could be said about the roles of third parties, commercial and non-commercial, as surrogate regulators, and more broadly of many current initiatives to reconfigure the regulatory state. Based on the authors' work for the OECD, Victorian Environmental Protection Authority and the Western Australian Department of Environment Protection, Leaders and Laggards addresses these problems by identifying innovative regulatory best practice internationally in a number of specific contexts, evaluating empirically the effectiveness of regulatory reform and providing policy prescriptions that would better enable agencies to fulfil their regulatory missions. Focusing primarily on the differing requirements for both corporations and small and medium-sized enterprises in North America and Europe, the book aims to complement existing initiatives and to expand knowledge of regulatory reform by showing: how existing experience can best be put to practical use "on the ground"; by drawing lessons from experiments in innovative regulation internationally; by reporting and extrapolating on original case studies; and by advancing understanding on which instruments and strategies are likely to be of most value and why. The authors argue that the development of theory has outstripped its application. In essence, Leaders and Laggards aims to ground a myriad of theory on the reinvention of environmental regulation into practice. The book will be essential reading for environmental policy-makers, regulatory and other government officials responsible for policy design and implementation, academics and postgraduate students in environmental management, environmental law and environmental policy, and a more general readership within environmental policy and management studies. It will also be of interest to those in industry, such as environmental managers and corporate strategists, who are considering the use of more innovative environmental and regulatory strategies, and to environmental NGOs.

Voluntary environmental agreements (VEAs) - generally agreements between government and business - have been regarded by many as a key new instrument for meeting environmental objectives in a flexible manner. Their performance to date has, however, also led to considerable criticism, with several parties arguing that they are methods for avoiding real action that goes beyond "business-as-usual". Is either of these positions justified? The aim of this book is to highlight and learn the lessons from existing experience, looking not just at results but also at specific elements of agreements and also at the process of the agreement itself. Lessons are drawn from experience from across the world, covering the full range of environmental challenges, and from the perspective of key stakeholder groups. Importantly, the book also presents tools for assessing and improving existing agreements and includes recommendations and guidelines for future agreements in key areas such as climate change. It also deals at length with the problem of how such agreements might be used in developing and transitional economies. The overall view of the book is that there is a real potential for the future use of VEAs as part of the policy mix and as a tool for sharing the responsibility for meeting environmental objectives. For the agreements to play this role, however, significant steps are needed to ensure that they are effective, efficient, equitable and appropriately linked to a portfolio of other instruments. The book is divided into four sections. First, existing agreements, their development and efficacy are considered; second, the prospects for voluntary agreements in developing and transitional economies are discussed; third, a range of authors examine the role of VEAs as part of the policy mix to combat climate change; and, finally, the book concludes with an examination of how new tools for evaluating and improving VEAs could be utilized in the future. Voluntary Environmental Agreements will be of interest not only to academics, governments and businesses wishing to understand this specific instrument, but also to those already implementing or considering applying VEAs to meet their environmental objectives.

World population is set to increase by a third in the next 25 years, with no corresponding increase in global rainfall. About seventy per cent of the world's abstracted water is used in farming and therefore the economics of irrigation is becoming an increasingly important issue for sustainable development. Water for Agriculture provides a thorough overview of this highly topical subject, written in a clear and accessible style.
The Scope of the book is wide both in its analysis and in its geographical coverage. Topics covered include the infrastructure, operation and maintenance of irrigation service supply, the supply of drainage services, economic cost benefit analysis, water resource planning at the regional scale, political economy and irrigation policy. The content of Water for Agriculture is enhanced by numerous tables, diagrams, and in-depth case studies.
This book will be an essential read for those professionals involved in the planning of water resources, and for advanced students studying this topic as part of agriculture, development studies, economics, engineering, environmental science, geography, hydrology and planning courses.

Series Information:
Harwood Fundamentals of Pure & Applied Economics

This book adds a whole new dimension to the editors' previous work on the social, economic, and environmental effects of global trade. For the first time it brings all three pillars of sustainability together into one coherent multiregional input-output (MRIO) framework. It shows the power of MRIO analysis to illuminate the local and global interdependencies of economic, environmental, and social systems and the benefits to be gained through analysing all three together. Change one thing and everything else changes. With chapters from around 60 researchers across 34 countries, this book illustrates the effect of natural resources and government policy settings 1990-2015 on the balancing act that was-and is-global trade. It provides a holistic systems' view of how supply chains work, revealing how easily they can become fragmented and out of kilter. And within all the chaos of COVID-19 it shows how MRIO is the one tool that can help rebuild a post-pandemic global economy into a fairer, safer world.

Air Quality Assessment and Management : A Practical Guide describes the techniques available for an assessment while detailing the concepts and methodologies involved. It reviews the principles of air quality management; primary sources of air pollution; impact of emissions on human health, flora and fauna; scoping of air quality impacts; baseline monitoring; impact prediction; impact significance; and pollution mitigation and control. Emphasis will be placed on the practical side of AQA, with numerous international case studies and exercises to aid the reader in their understanding of concepts and applications.

Air Quality Assessment: A practical guide describes the techniques available for an AQA while detailing the concepts and methodologies involved. It will review the principles of air quality management; primary sources of air pollution; impact of emissions of human health, flora and fauna; scoping of air quality impacts; baseline monitoring; impacts prediction; impact significance; and pollution mitigation and control. Emphasis will be placed on the practical side of AQA, with numerous international case studies and exercises to aid the reader in their understanding of concepts and applications.

The strategic management of socio-economic systems is becoming increasingly difficult with traditional economic models which are unable to handle environmental and technological factors. In Evolutionary Dynamics and Sustainable Development, Norman Clark, Francisco Perez-Trejo and Peter Allen offer a new approach which emphasizes the evolutionary nature of socio-economic systems. This major book begins with a critical evaluation of conventional economic approaches to development planning and then explores how modern general systems theory can show economic development as a process of structural change. The discussion includes the use of decision tools which can simultaneously handle spatial and temporal evolution. The authors develop a model which they explore through case studies of both Senegal and Crete. The model is combined with risk analysis to show how it can be used in computer-based scenarios, before its properties as an aid to decision making are summarized in the last chapter. Defining development as a process of structural change in economic systems rather than in terms of economic output, this volume will be welcomed for its advocacy of non-linear models as decision tools and for its special reference to issues of economic development and environmental stability in Third World countries.

National parks and game reserves are under threat from exploitation by tourists and by people living on their borders. Parks, although highly valued by conservationists, are not protected from unregulated economic behaviour within and outside their borders.In The Economics of Third World National Parks, Anup Shah argues that parks and reserves are worth preserving, rigorously analyses the problem and advocates solutions drawing on a wide range of sources. Issues discussed include the effects of economic activity on a national park, the tourist problem, valuing a national park and the use of cost-benefit decision making. Dr Shah uses economic analysis to explore institutional arrangements which would compensate for externalities resulting from exploitation and over-use by tourists and local communities. The price mechanism, he argues, is not a satisfactory tool with which to protect areas of rich bio-diversity. The Economics of Third World National Parks presents a clear and thoughtful application of economic thought, and especially the concept of externalities, to a key problem which current institutional structures seem unable to resolve.

In the latter part of the 20th century, humans are doing a particularly poor job of managing natural resources in a sustainable way over the long term.
Institutions, Ecosystems, and Sustainability focuses on long-term, sustainable natural resource management practices at the local, national, and international levels. The authors suggest that a major cause of the "sustainability problem" - regulatory policies for large areas that often threaten the sustainability of both natural resources and previously effective governance problems - lie in "scale" problems. Large scale ecosystems are not simply larger versions of smaller systems, and micro-scale ecosystems are not merely microcosms of large scale systems. The driving forces and feedback mechanisms operate at different levels and exhibit distinct patterns of their own.
Traditional management practices that do well at the local level cannot be expected to do equally well in handling activities organized at the continental or global scale. Even more importantly, when local systems are superseded by national or international management practices, local ecosystems frequently suffer.
The challenge is to match ecosystems and governance systems in ways that maximize the compatibility of these systems. This book builds upon this fundamental principle. Particularly valuable is the use of simulation exercises to explore the consequences of social institutions and a discussion of the progress being made in developing a broad global data base to test hypothesis about the relationship between ecosystems and social institutions, and to investigate ways to repair the damage already caused by scale mismatches.


Features

Contemporary Environmental Accounting: Issues, Concepts and Practice has been written in order to provide an up-to-date textbook in the rapidly developing field of environmental accounting. The book is suitable for both undergraduate and graduate students and their teachers, professional accountants, and corporate and organizational managers. Although no prior knowledge of environmental accounting is necessary to understand the critical issues at stake, academic accountants should also find that the book provides a useful introduction to the topic.

Degrowth is a planned economic contraction in wealthy countries that reduces production and consumption-and, by extension, greenhouse gas emissions and stresses on global ecosystems-to sustainable levels within ecological limits. This book explores the idea of degrowth as an economic alternative to offer a more sustainable and just future. A growing number of scientists and scholars now recognize that a system that continues to prioritize economic growth will prevent us from effectively addressing the dual environmental crises of climate change and biodiversity loss. To establish the case for degrowth, the text opens by posing critical questions about our current system and identifying its limitations, as well as discussing the ineffectiveness of "false solutions" that seem to offer something new but would actually preserve the status quo. The concept of degrowth is then fully introduced along with a discussion of core principles and goals as well as major critiques and questions. The book explores what living in a degrowth society would entail and the policies needed to support degrowth. Finally, the work concludes by examining the opportunities and challenges for degrowth and a successful transition to a sustainable steady-state economy. This book provides an advanced introduction to the environmental issues around degrowth for students, scholars and activists interested in economic alternatives, sustainability and the environment.

Nicholas Georgescu-Roegen was described by Paul Samuelson as 'an economist's economist'. This book honors him by discussing his theories on a wide range of issues but particularly on environmental and energy economics. It is a dynamic tribute which extends his work to address the problems the human race will face in the 21st century. The book shows how Georgescu-Roegen constructed nothing less than an almost complete theoretical alternative to neoclassical economics. Although best-known for his later work as an environmentalist and his work on energy and material transformation, Georgescu-Roegen also made seminal contributions to the economic theory of utility and production and is considered to be one of the founders of modern mathematical economics. In this book an internationally acclaimed group of contributors including Joan Martinez-Alier, William H. Miernyk, Herman Daly and Cutler Cleveland present discussions on environmental and energy economics as well as mathematical economics, economic development and peasant economies, and bioeconomics. This book serves as an excellent all-inclusive introduction to the work of one of the great economists of the 20th century. This celebration of the contributions made by Georgescu-Roegen will be of interest to environmental and natural resource economists, as well as social and economic theorists. With a dedication by Wassily Leontief and a foreword by Paul Samuelson.