There is conceptually a big difference between inequality of opportunity and inequality of outcomes, and the policies needed to address the two different kinds of inequality are also very different. However, it is difficult to measure inequality of opportunity. This paper proposes a new measure...

This paper compares the Total Economic Value of standing Amazonian rain forest with the Net Present Value of alternative agricultural land uses. It is shown that, at the current level of deforestation, the potential benefits of deforestation are higher than the expected costs. As the level of...