Principles of Environmental Economics
Contents vii
Figures xiii
Tables xv
Case studies xvi
Exhibits xvii
Preface xviii
Acknowledgements xxiv
Introduction xxv
PART 1
Fundamental assumptions, concepts, and theories of economics and
ecology essential for understanding the links between the natural
environment and the human economy 1
1 The natural environment and the human economy: the neoclassical
economics perspective 3
2 The natural environment and the human economy: an ecological
perspective 18
PART 2
The economics of the environment: theories and alternative public policy
instruments 43
3 Fundamentals of the economics of environmental resources: the
‘optimal’ trade-off between environmental quality and economic
goods 45
4 The economic theory of pollution control: the optimal level of
pollution 67
5 The economics of environmental regulations: regulating the
environment through judicial procedures 88
6 The economics of environmental regulations: pollution taxes and
transferable emission permits 106
7 Global environmental pollution: acid rain, ozone depletion and global
warming 126
PART 3
Valuing the environment 141
8 Economic valuation of environmental services 143
9 A framework for assessing the worthiness of an environmental
project: cost–benefit analysis and others 172
PART 4
The perennial debates on the biophysical limits to economic growth and
the emerging paradigm of sustainable development 199
10 Biophysical limits to economic growth: the Malthusian perspective 201
11 Biophysical limits to economic growth: the neoclassical economics
perspective 221
12 Biophysical limits to economic growth: the ecological economics
perspective 243
13 The economics of sustainable development 266
PART 5
The problems of poverty and environmental sustainability in the
developing countries of the world 289
14 Population, development and environmental degradation in the
developing world 291
Appendix A: Resource scarcity, economic efficiency and markets: how
the Invisible Hand works 323
Appendix B: List of important websites 335
Index 338
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