Environmental and Natural Resources Economics: Theory, Policy, and the Sustainable Society

Rating:
Summary: Economics isn't just about money!
Review: "Economics is the study of how scarce resources are allocated among competing uses." - Steven Hackett starts with the basics, perhaps recognizing that many readers (like this reviewer)have a limited, if not non-existent level of knowledge of a subject that controls our lives. Contrary to widespread opinion, economics is not the dismal science, and neither is it an esoteric exercise that is limited to the likes of Alan Greenspan. Hackett's definition of scarcity is similarly enlightening as his definition of economics - "something is said to be scarce when, at a zero price, more is wanted than is available." So most things are scarce, and everyone makes economic decisions about allocating scarce resources, whether or not those allocation decisions involve money and market transactions. From those basic definitions and more, Hackett proceeds to explain and expand upon the value systems and the allocation decisions that we make as individuals and as a society. As the title implies, "Environmental and Natural Resource Economics" concentrates on the decisions that are made about the use of natural resources, including wilderness, forests, minerals, and fisheries. He also discusses pollution and the options for controlling pollution, including market mechanisms for pollution reduction. Sustainable development is a major theme of the book and Hackett explains a variety of approaches to sustainability. For anyone who wants more than an emotional opinion on the environment and the choices that society must make in its use of the environment, Steven Hackett provides a readable and valuable introduction to a subject of critical importance.

Rating:
Summary: Economics isn't just about money!
Review: "Economics is the study of how scarce resources are allocated among competing uses." - Steven Hackett starts with the basics, perhaps recognizing that many readers (like this reviewer)have a limited, if not non-existent level of knowledge of a subject that controls our lives. Contrary to widespread opinion, economics is not the dismal science, and neither is it an esoteric exercise that is limited to the likes of Alan Greenspan. Hackett's definition of scarcity is similarly enlightening as his definition of economics - "something is said to be scarce when, at a zero price, more is wanted than is available." So most things are scarce, and everyone makes economic decisions about allocating scarce resources, whether or not those allocation decisions involve money and market transactions. From those basic definitions and more, Hackett proceeds to explain and expand upon the value systems and the allocation decisions that we make as individuals and as a society. As the title implies, "Environmental and Natural Resource Economics" concentrates on the decisions that are made about the use of natural resources, including wilderness, forests, minerals, and fisheries. He also discusses pollution and the options for controlling pollution, including market mechanisms for pollution reduction. Sustainable development is a major theme of the book and Hackett explains a variety of approaches to sustainability. For anyone who wants more than an emotional opinion on the environment and the choices that society must make in its use of the environment, Steven Hackett provides a readable and valuable introduction to a subject of critical importance.