Contemporary economic thinking, including the prevailing economics of climate change, does not recognize that we are embedded in Nature; it instead sees humanity as customers drawing on Nature. In this paper we present a grammar for economic reasoning that is not subject to that error. The...

A growing awareness of the contribution that technological change has made and can make to economic and social welfare has brought science and technology policy to the forefront of public discussions in both national and international forums. The papers in this volume, first presented at a...

A preview -- Resource allocation in a timeless world -- Externalities -- Intertemporal equilibrium -- Renewable resources : some ecological and environmental models -- Exhaustible resources : an introduction -- Production with exhaustible resources -- Resource depletion and capital accumulation...

We are interested in three related questions: (1) How should accounting prices be estimated? (2) How should we evaluate policy change in an imperfect economy? (3) How can we check whether intergenerational well-being will be sustained along a projected economic programme? We do not presume that...

This paper investigates institutions for the creation and transmission of knowledge as efficient resource allocation mechanisms. By looking at Science and Technology it develops a two way classification. Science, is a non market allocation mechanism, where knowledge is treated as a pure public...

There are two broad criteria by which one can judge humanity's success in feeding itself: (i) the proportion of people whose access to basic nutritional requirements is secure; and (ii) the extent to which global food production is sustainable. Even though the two are related, they have usually...