Dictionary of Environmental Economics

Anil Markandya, Renat Perelet, Pamela Mason and Tim Taylor 
Earthscan  2001  

Hardback  196 pages  ISBN 9781853835292      £90.00

Softback  196 pages  ISBN 9781853835421      £33.00
This is the first comprehensive dictionary of environmental economics, compiled by leading academics in the field. Each expression or phrase is explained clearly in non-technical language, with references given to its use in the growing literature on the subject area.

From abatement to zonal travel cost method (ZTCM), there are over 1000 cross-referenced entries covering topics such as:

  • environmental instruments for policy-making;
  • techniques applied in environmental and natural resource economics;
  • major issues in environmental economics and environmental management;
  • economics of sustainable development;
  • natural resource accounting; and
  • international environmental agreements.

As well as providing incisive answers to questions such as €what is natural capital?€ or €when are crowding diseconomies important?€, the dictionary includes a list of commonly used acronyms and abbreviations and a complete bibliography detailing the major texts in the field are provided.

The Dictionary of Environmental Economics will prove to be an essential tool for students and policy-makers.


  • List of Figures and Tables
  • List of Acronyms and Abbreviations
  • Preface by Anil Markandya
  • Acknowledgements
  • The Dictionary
  • References


Classic Economics Classic economists were interested in standards of living the process of economic growth. Natural resources were seen as determinants of national wealth and growth; moreover, differences in resource endowments were perceived as influencing income differentials between economies. Since land was fixed in supply, and was a necessary input in production, classical economists ranged from being actually pessimistic about the future of mankind (the Malthusian viewpoint) to taking the less stringent view that economic progress was necessarily limited in the long run. (perman et al, 1999.) See also neoclassical economics.

Ecological Stability The ability of an ecological system to maintain a relatively constant level, or equilibrium, of biodiversity, biomass and productivity, in response to normal fluctuations and cycles in the surrounding environment. (Pearce et al, 1989.) See sustainable shock, resilience, vulnerability.

Polluter Pays Principle (PPP) The principal that the price of a good or service should include the cost of environmental damage that results from the production process. This can be achieved by charging polluters for the environmental externalities of the production of a good or service.
The PPP was introduced by the OECD in 1973. The idea was put on the international stage by OECD Recommendation C (72)128 in 1982. Countries within the OECD reaffirmed this principal in 1985, seeking to introduce €more flexible, efficient and cost-effective pollution control measures through a consistent application of the Polluter Pays Principle and economic instruments€. (Pearce and Turner, 1990.) See also victim pays principal (VPP)

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