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Acknowledgments | |
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Introduction | |
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Toward a New Paradigm | |
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Something Happened on the Way to the Twenty-First Century | |
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Full-World Economics: Limits to Growth | |
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Full-World Economics: Externalities Are the Rule, Not the Exception | |
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Ecosystem Complexity | |
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Notes | |
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Cost-Benefit Analysis: Beware | |
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The Lure of CBA | |
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CBA and Value Judgments | |
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Compensation | |
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When People Have Rights | |
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How Power and Wealth Matter | |
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When the Rate of Time Discount Is Determinant | |
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When Continuity Is Unlikely | |
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When Benefits Are Hard to Quantify | |
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Not All Uncertainty Is Created Equal | |
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Notes | |
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What on Earth Is Sustainable Development? | |
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Sustainable Development: A Definition | |
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What Is GDP? | |
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What Is Wrong With GDP? | |
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Economic Progress | |
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Sustainability as Intergenerational Equity | |
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When Capital Is Not Fungible | |
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Social Versus Economic Progress | |
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A Workable Definition | |
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Notes | |
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Why the Environment Is at Risk | |
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Useful Insights From Mainstream Economics | |
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Externalities and Professor Pigou | |
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Public Goods and the Free-Rider Problem | |
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The Tragedy of the Commons | |
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Climate Change Preview | |
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Resource Extraction and Rates of Time Preference | |
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Notes | |
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Where Mainstream Economics Dare Not Go | |
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The Growth Imperative: Beyond Assuming Conclusions | |
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Biases Against Leisure and Collective Consumption | |
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Competition and Absentee Ownership | |
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How Endogenous Preferences Matter | |
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Why the Kuznets Curve Will Not Save the Day | |
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How High Pigovian Taxes? | |
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Jobs Versus the Environment Is Not the Problem | |
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Notes | |
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Environmental Policy | |
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Free-Market Environmentalism: Misinterpreting the Coase Theorem | |
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The Coase Theorem: Standard Presentation | |
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There Is No Market! | |
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A Game of Divide-the-Pie | |
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Perfect Knowledge Is Not Complete Information | |
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Negotiations With Incomplete Information | |
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Multiple Victims: More Than Transaction Costs | |
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The Myth of Free-Market Environmentalism | |
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Notes | |
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Real-World Environmental Policy | |
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A Policy Primer | |
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Incidence, Progressivity, and Rebates | |
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Zoning and Sprawl | |
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Community Management: The Neglected Alternative for CPRs | |
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Permit Markets: Dream or Nightmare? | |
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Keeping Wall Street at Bay | |
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The United States: A Very Special Country Indeed | |
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Notes | |
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Climate Change | |
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A Brief History of Climate Negotiations | |
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The Road to Copenhagen | |
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The Free-Rider Problem | |
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Reconciling Effectiveness, Equity, and Efficiency | |
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Kyoto: Myth Versus Reality | |
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Notes | |
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Criticisms of Kyoto | |
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What Kyoto Got Right | |
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Too Little, Too Late | |
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Monitoring Problems | |
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The Case for Carbon Trading | |
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The Case Against Carbon Trading | |
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Efficiency Problems | |
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Equity Problems | |
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Enforcement Problems: The Invisible Elephant | |
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Notes | |
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Beyond Kyoto | |
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Let Science Set the Caps | |
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Caps for All | |
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Equitable Caps: The Greenhouse Development Rights Framework | |
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Capping Net Emissions | |
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A New Sheriff for the Carbon Market | |
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Why Not an International Carbon Tax? | |
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Can It Sell in Brussels, Beijing, and Buffalo? | |
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A Useful Role for Environmental Justice Activists | |
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Notes | |
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Appendix to Part IV: Exercise on Climate Control Treaties | |
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Conclusion | |
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References | |
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Index | |
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About the Author | |