About the product
Among development specialists and policy makers alike, the objective of `sustainable development' has been elaborated and accepted since at least the 1987 Brundtland report, Our Common Future. This publication offers enormous hope that economic practice can be brought into line with new policy objectives that focus on the long-term consequences of economic activity. The author argues for a more realistic approach to cost-benefit analysis that places greater value on the long term and that recognizes the value of environmental assets. Among his many innovative and practical proposals is a new method for calculating `shadow prices' for assets in the future.