The Economics of Nature

We benefited from a great deal of discussion, and give and take, in the writing of many sections of the book. [...] It marked the culmination of the environmental movement’s efforts to bring to the attention of the world the idea that the globe is on a non- sustainable path of development. [...] The Global Environmental Facility (GEF) was established already in 1991 as part of a collective agreement to transfer funds and rights over development for the purpose of conserving the earth’s resources and environment – to protect the global environment and promote sustainable economic growth. [...] Included in this discussion are problems of measuring consumer and producer welfares (Chapters 2 and 3, respectively), the measurement and capture of resource rents (Chapter 4), valuation of commodities not traded in markets, of which nature and biological assets are likely the most important (Chapter 5), and examples of how to apply CBA (Chapter 6). [...] Topics examined in that chapter include measurement of numbers of species and biodiversity, extinction, and the economics and politics of endangered species legislation.