Environmental economics may hold the key to the successful management of the world's accelerating environmental problems, from transport and pollution to the wholesale degradation of much of the Third World, climate change and loss of the ozone layer. Increasingly a range of professionals and policy makers as well as environmentalists and the economists themselves are turning to it to show how to arrive at decisions on these complicated and vital issues. This reader brings together the most important contributions to the subject. Sections of it cover the theoretical issues, the different ways of valuing the environment, economic instruments of environmental policy, environment and development and global environmental problems. An extensive introduction by the editors maps out the area and the development of the arguments within it. As a whole the volume makes an indispensable sourcebook for those in any way involved with these questions. Anil markandya is one of the authors of Blueprint for a Green Economy and Blueprint 2: Greening the Global Economy.