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An introduction to the concepts and tools of natural resource
economics, including dynamic models, market failures, and
institutional remedies. This introduction to natural resource
economics treats resources as a type of capital; their management
is an investment problem requiring forward-looking behavior within
a dynamic setting. Market failures are widespread, often associated
with incomplete or nonexistent property rights, complicated by
policy failures. The book covers standard resource economics
topics, including both the Hotelling model for nonrenewable
resources and models for renewable resources. The book also
includes some topics in environmental economics that overlap with
natural resource economics, including climate change. The text
emphasizes skills and intuition needed to think about dynamic
models and institutional remedies in the presence of both market
and policy failures. It presents the nuts and bolts of resource
economics as applied to nonrenewable resources, including the
two-period model, stock-dependent costs, and resource scarcity. The
chapters on renewable resources cover such topics as property
rights as an alternative to regulation, the growth function, steady
states, and maximum sustainable yield, using fisheries as a
concrete setting. Other, less standard, topics covered include
microeconomic issues such as arbitrage and the use of discounting;
policy problems including the "Green Paradox"; foundations for
policy analysis when market failures are important; and taxation.
Appendixes offer reviews of the relevant mathematics. The book is
suitable for use by upper-level undergraduates or, with the
appendixes, masters-level courses.
“We called it THE VUE, and without a doubt, that was the most
complimentary nickname Bellevue Hospital ever had.” So begins The
View from the Vue, an “entertaining, colorful recall”
(Publishers Weekly) of life a half-century ago at New York City’s
medical court of last resort. Between 1959 and 1965, Dr.
Larry Karp served as medical student, intern, and resident
physician at Bellevue. During these six years, he came to know and
understand the people who wended their way through the dingy
hallways and roach-infested subterranean passages, and inhabited
the sparsely furnished wards of the fabulous hospital whose origins
date back to 1811. It’s not surprising that Dr. Karp has never
been able to forget The Vue. Writing in a style both human and
humorous, he recalls some of the astonishingly funny and dramatic
events he lived through, involving bizarre patients and grotesque
working conditions. In the process, he gives us a clear picture of
what it was like at Bellevue in the early
sixties . . . for both doctors and patients.
At fifteen, Sanford Brunson Campbell (1884-1952) became enchanted
with the new sounds of ragtime and ran away from his rural Kansas
home, hopping a train to Sedalia, Missouri, determined to take
piano lessons from a black musician he had never met. Scott Joplin
nicknamed his white protege ""The Ragtime Kid."" A composer and
entertainer at the dawn of the ragtime era, ""Brun"" was a prime
mover in the ragtime revival of the 1940s and helped establish
Joplin's prominence as an American virtuoso. Campbell's own legacy
was tarnished by his inability to tell a straight story and he was
often dismissed as a liar and a clown. Based on his memoirs,
musical compositions and correspondence with music industry
notables, this first comprehensive biography of Campbell reveals an
engaging storyteller and a devotee wholly dedicated to a musical
genre that had been given up as dead. His firsthand account of life
as an itinerant pianist in the Midwest provides a unique picture of
life a century ago.
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