In this paper, we use results from the Hotelling model of non-renewable resources to examine the mainstream view among economists that improvements in recovery technology can offset declines in petroleum reserves. We present empirical evidence from two well-documented mega-oilfields: the Forties...

Economic models of climate change typically analyze its short-run effects, for example, up to the year 2100 or for a doubling of atmospheric CO2. This is a potentially serious shortcoming since under a business-as-usual scenario, atmospheric CO2 concentrations could more than quadruple. We...

This paper uses the World Trade Model with Climate Sensitive Land (WTMCL) to evaluate possible future land-use changes associated with adaptations to climate change in a globalized world. In this approach, changes in regional agricultural production, which are based on comparative advantage,...

In contrast to many discussions based on annual emissions, this article presents calculations and projections of cumulative contributions to the stock of atmospheric CO₂ by the major players, China, Europe, India, Japan and the USA, for the period 1900-2080. Although relative contributions to...

<Para ID="Par1">Advances in the study of social behavior require a revision in the economic concept of the invisible hand, which states that self-interested behavior leads to well-functioning societies without individuals having the welfare of the society in mind. Evolutionary theory shows that self-interest...</para>

The adoption of agriculture was one of the most momentous transformations in human history. It set into motion forces that changed our species from living in small numbers within the confines of local ecosystems into one that is now changing the biophysical characteristics of the entire planet....

The current geological epoch has been dubbed the Anthropocene—the age of humans. We argue that the roots of the Anthropocene lie in the agricultural revolution that began some 8000years ago. Unique human psychological and cultural characteristics were present in our distant hunter–gatherer...

It is argued that mainstream economics, with its present methodological approach, is limited in its ability to analyze and develop adequate public policy to deal with current environmental problems and sustainable development. This book provides an alternative approach. Building on the strengths...

Two major problems promise to dominate economic and social policy during the twentyfirst century. These are global climate change and the growing gap between the rich and the poor. Economists are facing these issues at a time when many of the standard tools of economic analysis for example,...