Economics and the Environment
by Eban S. Goodstein, Stephen Polasky
8th Edition
Publisher: Wiley
Book Details
| Print ISBN | 9781119369868 |
| eText ISBN | 9781119397748 |
| Publisher | Wiley |
| Publishing Year | 2018 |
| Edition | 8th Edition |
| Language | English |
| Pages | 464 |
Economics and the Environment, 8th Edition, is an academic textbook that uses global warming as a central framing example to examine environmental economics.
The volume organizes its discussion around four questions regarding acceptable pollution levels, government regulatory capacity, policy improvements, and international cooperation. Key themes include ethical frameworks, benefit-cost analysis, incentive-based regulation, and the management of natural resources and ecosystem services.
Designed for students, the text covers environmental standards and legislation, supported by an online instructor's manual that offers chapter-by-chapter teaching suggestions.
Table of Contents
Chapter 1: Four Economic Questions About Climate Change
- • 1.0 Introduction
- • 1.1 Four Questions
- • 1.2 How Much Pollution Is Too Much?
- • 1.3 Is Government Up to the Job?
- • 1.4 How Can We Do Better?
- • 1.5 Can We Resolve Global Issues?
- • 1.6 Summary
Chapter 2: Ethics and Economics
- • 2.0 Introduction
- • 2.1 Utility and Utilitarianism
- • 2.2 Social Welfare
- • 2.3 Summary
Chapter 3: Pollution and Resource Degradation as Externalities
- • 3.0 Introduction
- • 3.1 The Open Access Problem
- • 3.2 The Public Goods Problem
- • 3.3 Is Sustainable Business a Solution?
- • 3.4 Summary
Chapter 4: The Efficiency Standard
- • 4.0 Introduction
- • 4.1 Efficiency Defined
- • 4.2 Efficient Pollution Levels
- • 4.3 Marginals and Totals
- • 4.4 The Coase Theorem Introduced
- • 4.5 Air Pollution Control in Baltimore: Calculating the Efficient Standard
- • 4.6 The Ethical Basis of the Efficiency Standard
- • 4.7 Real-World Benefit–Cost Analysis
- • 4.8 Summary
Chapter 5: Measuring the Benefits of Environmental Protection
- • 5.0 Introduction
- • 5.1 Use, Option, and Existence Value: Types of Nonmarket Benefits
- • 5.2 Consumer Surplus, WTP, and WTA: Measuring Benefits
- • 5.3 Risk: Assessment and Perception
- • 5.4 Measuring Benefits I: Contingent Valuation
- • 5.5 Measuring Benefits II: Travel Cost
- • 5.6 Measuring Benefits III: Hedonic Regression
- • 5.7 The Value of Human Life
- • 5.8 Summary
- • Appendix 5A: WTA and WTP Redux
- • 5A.1: An Indifference Curve Analysis
- • 5A.2: Prospect Theory or Substitutability?
Chapter 6: Measuring the Costs of Environmental Protection
- • 6.0 Introduction
- • 6.1 Engineering Costs
- • 6.2 Productivity Impacts of Regulation
- • 6.3 Employment Impacts of Regulation
- • 6.4 General Equilibrium Effects and the Double Dividend
- • 6.5 A Final Look at Benefit–Cost Analysis
- • 6.6 Summary
Chapter 7: The Safety Standard
- • 7.0 Introduction
- • 7.1 Defining the Right to Safety
- • 7.2 The Safety Standard: Inefficient
- • 7.3 The Safety Standard: Not Cost-Effective
- • 7.4 The Safety Standard: Environmental Justice or Regressive Impact?
- • 7.5 Siting Hazardous Waste Facilities: Safety versus Efficiency
- • 7.6 Summary
Chapter 8: The Sustainability Standard
- • 8.0 Introduction
- • 8.1 Sustainability: Neoclassical and Ecological Approaches
- • 8.2 Future Benefits, Costs, and Discounting
- • 8.3 An Example of Discounting: Light Bulbs
- • 8.4 Savings, Investment, and Market Interest Rates
- • 8.5 The Social Discount Rate and Dynamic Efficiency
- • 8.6 Discounting Climate Change
- • 8.7 Ecological Economics, Strong Sustainability, and the Precautionary Principle
- • 8.8 Strong Sustainability in Practice: Endangered Species, EIS, and Reach
- • 8.9 Summary
Chapter 9: Measuring Sustainability
- • 9.0 Introduction
- • 9.1 Malthus and Ecological Economics
- • 9.2 Modern Debates: Limits to Growth and Planetary Boundaries
- • 9.3 Measuring Strong Sustainability: Impacts and Footprints
- • 9.4 Measuring Weak Sustainability: Net National Welfare and Inclusive Wealth
- • 9.5 Natural Capital Depreciation
- • 9.6 Are We Achieving Sustainability?
- • 9.7 Discounting, Sustainability, and Investing for the Future
- • 9.8 The Ecological–Neoclassical Debate in Context
- • 9.9 Summary
Chapter 10: Natural Resources and Ecosystem Services
- • 10.0 Introduction
- • 10.1 Nonrenewable Resources and the Hotelling Model
- • 10.2 Testing the Nonrenewable Resource Model
- • 10.3 The Roller Coaster Ride of Oil Prices
- • 10.4 Peak Oil?
- • 10.5 Renewable Resources
- • 10.6 Renewable Resource Policy: Fisheries and Endangered Species
- • 10.7 Ecosystem Services and Natural Capital
- • 10.8 Summary
Chapter 11: Is More Really Better? Consumption, Welfare, and Behavior
- • 11.0 Introduction
- • 11.1 Money and Happiness
- • 11.2 Social Norms and the Rat Race
- • 11.3 Positional Goods and Consumption Externalities
- • 11.4 Welfare with Social Consumption
- • 11.5 Overconsumption Policy Solutions
- • 11.6 Behavioral Economics and Behavior Change
- • 11.7 Summary
Chapter 12: The Political Economy of Environmental Regulation
- • 12.0 Introduction
- • 12.1 The Process of Environmental Regulation
- • 12.2 Regulation under Imperfect Information
- • 12.3 Bureaucratic Discretion and Political Influence
- • 12.4 Who Wins the Influence Game?
- • 12.5 Political Reform of Regulation
- • 12.6 Better Information, More Democracy
- • 12.7 Summary
Chapter 13: An Overview of Environmental Legislation
- • 13.0 Introduction
- • 13.1 Cleaning the Air
- • 13.2 The Clean Air Act and Climate Change
- • 13.3 Fishable and Swimmable Waters
- • 13.4 Hazardous Waste Disposal on Land
- • 13.5 Chemicals and Pesticides
- • 13.6 Endangered Species Protection
- • 13.7 Summary
Chapter 14: The Regulatory Record: Achievements and Obstacles
- • 14.0 Introduction
- • 14.1 Accomplishments of Environmental Regulation
- • 14.2 Monitoring and Enforcement: Political Constraints
- • 14.3 The Appeal of Incentive-Based Regulation
- • 14.4 Beyond Regulation? Promoting Clean Technology
- • 14.5 Summary
Chapter 15: Incentive-Based Regulation: Theory
- • 15.0 Introduction
- • 15.1 The Cost-Effectiveness Rule
- • 15.2 IB Regulation and Cost-Effectiveness
- • 15.3 IB Regulation and Technological Progress
- • 15.4 Potential Problems with IB Regulation
- • 15.5 Summary
- • Appendix 15A: Imperfect Regulation in an Uncertain World
- • 15A.0: Minimizing the Costs of Being Wrong
- • 15A.1: An Application to Greenhouse Gas Emissions
- • 15A.2: Summary
- • Appendix 15B: Incentive-Compatible Regulation
- • 15B.0: Incentives to Lie
- • 15B.1: Incentives to Tell the Truth
- • 15B.2: Summary
Chapter 16: Incentive-Based Regulation: Practice
- • 16.0 Introduction
- • 16.1 Lead and Chlorofluorocarbons
- • 16.2 Trading Urban Air Pollutants
- • 16.3 Marketable Permits and Acid Rain
- • 16.4 Carbon Trading in the Northeast and California
- • 16.5 Two Failed U.S. Efforts: Mercury and Carbon
- • 16.6 The European Emissions Trading System
- • 16.7 Pollution Taxes and Their Relatives
- • 16.8 Summary
Chapter 17: Promoting Clean Technology: Theory
- • 17.0 Introduction
- • 17.1 Path Dependence and Clean Technology
- • 17.2 Clean Technology Defined
- • 17.3 If You’re So Smart, Why Aren’t You Rich?
- • 17.4 Picking theWinning Path
- • 17.5 Promoting Early-Stage Clean Technologies
- • 17.6 Promoting Late-Stage Clean Technologies
- • 17.7 Clean Technology: Two Case Studies
- • 17.8 Summary
Chapter 18: Energy Policy and the Future
- • 18.0 Introduction
- • 18.1 Technology Options: Electricity and Heat
- • 18.2 Policy Options: Electricity and Heat
- • 18.3 Technology Options: Transport
- • 18.4 Policy Options: Transport
- • 18.5 Summary
Chapter 19: Poverty, Population, and the Environment
- • 19.0 Introduction
- • 19.1 Poverty and the Environment
- • 19.2 The Population Picture in Perspective
- • 19.3 An Economic Approach to Family Size
- • 19.4 Controlling Population Growth
- • 19.5 Consumption and the Global Environment
- • 19.6 Envisioning a Sustainable Future
- • 19.7 Summary
Chapter 20: Environmental Policy in Low-Income Countries
- • 20.0 Introduction
- • 20.1 The Political Economy of Sustainable Development
- • 20.2 Ending Environmentally Damaging Subsidies
- • 20.3 Establishing and Enforcing Property Rights
- • 20.4 Regulatory Approaches
- • 20.5 Sustainable Technology: Development and Transfer
- • 20.6 Resource Conservation and Debt Relief
- • 20.7 Trade and the Environment
- • 20.8 Summary
Chapter 21: The Economics of Global Agreements
- • 21.0 Introduction
- • 21.1 Agreements as Public Goods
- • 21.2 Monitoring and Enforcement
- • 21.3 The Ozone Layer and Biodiversity
- • 21.4 Stopping Global Warming: Theory
- • 21.5 Stopping Global Warming: Reality
- • 21.6 Summary
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