Geoffrey Heal is Garrett Professor of Public Policy and Business Responsibility and professor of economics and finance of the Graduate School of Business at Columbia University. A past president of the Association of Environmental and Resource Economists, he is the author of many scientific articles and thirteen books, including Economic Theory and Exhaustible Resources and Nature and the Marketplace.

• Appendix Project evaluation National welfare Measuring national income Policy issues Capital and renewable resources Exhaustibility and accumulation Capital accumulation Investment in a backstop Renewable resources revisited Depletion revisited Alternatives to utilitarianism A broader perspective Renewable resources Valuing a depletable stock The classical formulation Sustainability within a classical framework

Careful, rigorous analyses such as those conducted in this book should help focus the debate about the perplexing and consequential issues that fall under the rubric of sustainability. -- Jeffrey A. Krautkraemer Journal of Economic Literature

Geoffrey Heal is Garrett Professor of Public Policy and Business Responsibility and professor of economics and finance of the Graduate School of Business at Columbia University. A past president of the Association of Environmental and Resource Economists, he is the author of many scientific articles and thirteen books, including Economic Theory and Exhaustible Resources and Nature and the Marketplace.

• Appendix Project evaluation National welfare Measuring national income Policy issues Capital and renewable resources Exhaustibility and accumulation Capital accumulation Investment in a backstop Renewable resources revisited Depletion revisited Alternatives to utilitarianism A broader perspective Renewable resources Valuing a depletable stock The classical formulation Sustainability within a classical framework

Careful, rigorous analyses such as those conducted in this book should help focus the debate about the perplexing and consequential issues that fall under the rubric of sustainability. -- Jeffrey A. Krautkraemer Journal of Economic Literature

Geoffrey Heal is Garrett Professor of Public Policy and Business Responsibility and professor of economics and finance of the Graduate School of Business at Columbia University. A past president of the Association of Environmental and Resource Economists, he is the author of many scientific articles and thirteen books, including Economic Theory and Exhaustible Resources and Nature and the Marketplace.

• Appendix Project evaluation National welfare Measuring national income Policy issues Capital and renewable resources Exhaustibility and accumulation Capital accumulation Investment in a backstop Renewable resources revisited Depletion revisited Alternatives to utilitarianism A broader perspective Renewable resources Valuing a depletable stock The classical formulation Sustainability within a classical framework

Careful, rigorous analyses such as those conducted in this book should help focus the debate about the perplexing and consequential issues that fall under the rubric of sustainability. -- Jeffrey A. Krautkraemer Journal of Economic Literature