Much of the improvement in living standards in developed and developing countries is attributable to the exploitation of nonrenewable and renewable resources. The problem is to know when the exploitation occurs at rates and with technologies that are sustainable. If the technologies used are not...

1. Background and overview -- Part 1: The need for environmental and natural resource policy -- 2. Causes of environmental degradation -- 3. The evolution of rights -- Part 2: Review of policy instruments -- 4. Direct regulation of the environment -- 5. Taxes -- 6. Tradable permits -- 7....