Economics of the Environment: Theory and Policy

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Springer Science & Business Media, Jan 3, 2008 - Business & Economics - 333 pages
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The labor of nature is paid, not because she does much, but because she does little. In proportion as she becomes niggardly in her gifts, she exacts a greater price for her work. Where she is munificently bene- cent, she always works gratis. 1 David Ricardo This book interprets nature and the environment as a scarce resource. Whereas in the past people lived in a paradise of environmental superabundance, at present environmental goods and services are no longer in ample supply. The environment fulfills many functions for the economy: it serves as a public-c- sumption good, as a provider of natural resources, and as receptacle of waste. These different functions compete with each other. Releasing more pollutants into the environment reduces environmental quality, and a better environmental quality implies that the environment’s use as a receptacle of waste has to be restrained. Consequently, environmental disruption and environmental use are by nature allocation problems. This is the basic message of this book.
  

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Contents

Using the Environment An Allocation Problem
7
Fig 22 Inputoutput system of the economy and the environment
12
Production Theory and Transformation Space
27
Fig 31 Emission and production functions
28
Fig 35 Transformation space with negative externalities
34
Optimal Environmental Use 43
42
Fig 41 Determination of the emission tax
47
Environmental Quality as a Public Good
59
The Political Economy of Environmental Scarcity
163
Environmental Endowment Competitiveness and Trade
173
Fig 111 Trade effects of environmental policy
177
Fig 112 Comparative advantage and environmental policy
178
Transfrontier Pollution
195
Fig 121 Transfrontier pollution
198
Global Environmental Media 209
208
Fig 131 Global environmental media
211

Fig 51 Aggregation of willingness to pay
60
Fig 53a Abatement costs in selected sectors
67
Fig 55 Household optimum
79
Fig 57 The netbenefit function of the consumer
86
PropertyRights Approach to the Environmental Problem 97
96
Fig 61 Coase solution with transaction costs
102
Incidence of an Emission Tax
107
Fig 72 Structure of general equilibrium model
113
Effects
118
Fig 74 Allocation effects in a twofactor model
119
Policy Instruments 127
126
Fig 81 Effect of an instruction to reduce emissions
134
Fig 84 Combining standards and an emission tax
149
Policy Instruments and the Casuistics of Pollution
153
Fig 92 Optimal waste reduction with two cost functions
156
Regional Aspects of Environmental Allocation
229
Fig 141 Delineation of regions
230
Fig 142 Emission taxes with differences in evaluation
236
LongTerm Aspects of Environmental Quality 251
250
Fig 151 The μ 0 curve and the S 0 curve
256
Economic Growth Sustainability and Environmental
267
Fig 161 Goal conflict between environmental quality and output
268
Fig 166 Survival and environmental policy
275
Fig 167 Environmental Kuznets Curve
284
Risk and Environmental Allocation
285
Fig 173 Risk in the damage function and steady state
292
About the Author
299
Subject Index 329
328
Copyright

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Page 301 - Arrow, KJ and AC Fisher (1974), 'Environmental preservation, uncertainty and irreversibility', Quarterly Journal of Economics, 88, 312-19.

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About the author (2008)

Horst Siebert is President Emeritus of the Kiel Institute for World Economics, Steven Muller Professor of Economics at Johns Hopkins University, and Jelle Zijlstra Professorial Fellow at the Netherlands Institute for Advanced Studies. He previously served as a member of the German government's Council of Economic Advisors for twelve years. He is the author of "The World Economy, Economics of the Environment," and the author or editor of numerous other books.

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