1. Something Happened on the Way to the Twenty-First Century
Full-World Economics: Limits to Growth
Full-World Economics: Externalities Are the Rule, Not the Exception
When the Rate of Time Discount Is Determinant
When Benefits Are Hard to Quantify
Not All Uncertainty Is Created Equal
3. What on Earth Is Sustainahle Development?
Sustainable Development: A Definition
Sustainability as Intergenerational Equity
Social Versus Economic Progress
Part II. Why the Environment Is at Risk
4. Useful Insights From Mainstream Economics
Externalities and Professor Pigou
Public Goods and the Free-Rider Problem
Resource Extraction and Rates of Time Preference
5. Where Mainstream Economics Dare Not Go
The Growth Imperative: Beyond Assuming Conclusions
Biases Against Leisure and Collective Consumption
Competition and Absentee Ownership
How Endogenous Preferences Matter
Why the Kuznets Curve Will Not Save the Day
Jobs Versus the Environment Is Not the Problem
Part III. Environmental Policy
6. Free-Market Environmentalism: Misinterpreting the Coase Theorem
The Coase Theorem: Standard Presentation
Perfect Knowledge Is Not Complete Information
Negotiations With Incomplete Information
Multiple Victims: More Than Transaction Costs
The Myth of Free-Market Environmentalism
7. Real-World Environmental Policy
Incidence, Progressivity, and Rebates
Community Management: The Neglected Alternative for CPRs
Permit Markets: Dream or Nightmare?
The United States: A Very Special Country Indeed
8. A Brief History of Climate Negotiations
Reconciling Effectiveness, Equity, and Efficiency
The Case Against Carbon Trading
Enforcement Problems: The Invisible Elephant
Equitable Caps: The Greenhouse Development Rights Framework
A New Sheriff for the Carbon Market
Why Not an International Carbon Tax?
Can It Sell in Brussels, Beijing, and Buffalo?
A Useful Role for Environmental Justice Activists