Principles of Environmental Economics

Second edition of this standard textbook which, although aimed at students of economics, is exceptionally readable and informative. The author begins with two fundamental chapters outlining the contrasting approaches of neoclassical economics and ecology to the subject. All this is spelt out in detail and tightly related to the rest of the book, for instance in terms of the economics of scarcity as compared with that of finite limits to resources. There is a section on valuing the environment and three perspectives on the biophysical limits to economic growth. The final chapter reviews population pressure and environmental degradation in the developing world, showing where approaches have proved useful and proposing new and constructive measures. If I were studying economics again 30 years on, this would be my field and this book is an essential guide to it.