Presents a framework for understanding the earth's future from an economic perspective. This book shows the benefits of viewing the environment as an economic asset that should be understood as a part of a nation's income and explains how this approach can lead to conservative patterns of resource use.

Stepping beyond merely theoretical generalities, "Valuing the Future" offers a dynamic new blueprint for comprehending sustainability. Chapters provide complete mathematical templates for the valuation of a depletable stock and of renewable resources, the proper calculation of national income, and the conduct of cost-benefit analysis. It will be of great value to economic theorists, environmental economists and policymakers, providing a powerful new model for scientists concerned with environmental sustainability.