Product Description

Now available in paperback, this is the first comprehensive dictionary of environmental economics and key legal terms, compiled by leading academics in the field. Each expression or phrase is explained clearly in non-technical language, with references given to its use in the growing literature on the subject area. A list of commonly used acronyms is provided, as is a complete bibliography detailing all the major texts in the field. This is an essential tool for students and policy-makers in all fields connected to environmental economics.

Product Details

• Amazon Sales Rank: #775221 in Books
• Published on: 2002-11-06
• Original language: English
• Number of items: 1
• Binding: Paperback
• 196 pages

Review
"The editors claim this is the first dictionary specializing in environmental economics. Of the few glossaries available, none has the detail and comprehensiveness of this work. It includes more than 1,000 entries on resource management, instruments for policy making, environmental management, sustainable development, and natural resource accounting. The entries, concise and fairly technical, include charts, graphs, and formulas where appropriate and are extensively cross-referenced. An excellent source bibliography is included. This dictionary will be of great use to libraries supporting environmental studies, economics, and business curricula. Highly recommended for upper-division undergraduates, graduate students, faculty, and professionals. All academic libraries." --- J. C. Stachacz, Dickinson College, for CHOICE

About the Author
Anil Markandya is Lead Economist on Environment and Socially Sustainable Development in Eastern Europe and Central Asia at the World Bank. Renat Perelet is research leader at the Institute for Systems Analysis, Moscow. Pamela Mason and Tim Taylor are researchers in economics at the University of Bath.

Excerpted from Dictionary of Environmental Economics by Anil Markandya, Renat Perelet, Pamela Mason, Tim Taylor. Copyright © 2001. Reprinted by permission. All rights reserved.
EXAMPLES

1)Classic Economics Classic economists were interested in standards of living the process of economic growth. Natural resources were seen as determinants of national wealth and growth; moreover, differences in resource endowments were perceived as influencing income differentials between economies. Since land was fixed in supply, and was a necessary input in production, classical economists ranged from being actually pessimistic about the future of mankind (the Malthusian viewpoint) to taking the less stringent view that economic progress was necessarily limited in the long run. (perman et al, 1999.) See also neoclassical economics.

2)Ecological Stability The ability of an ecological system to maintain a relatively constant level, or equilibrium, of biodiversity, biomass and productivity, in response to normal fluctuations and cycles in the surrounding environment. (Pearce et al, 1989.) See sustainable shock, resilience, vulnerability.

3)Polluter Pays Principal (PPP) The principal that the price of a good or service should include the cost of environmental damage that results from the production process. This can be achieved by charging polluters for the environmental externalities of the production of a good or service. The PPP was introduced by the OECD in 1973. The idea was put on the international stage by OECD Recommendation C (72)128 in 1982. Countries within the OECD reaffirmed this principal in 1985, seeking to introduce ‘more flexible, efficient and cost-effective pollution control measures through a consistent application of the Polluter Pays Principle and economic instruments’. (Pearce and Turner, 1990.) See also victim pays principal (VPP).