Go ahead, print this one out and read it on the plane:
William J. Baumol, On the Increasing Role of Economic Research in Management of Resources and Protection of the Environment, Annual Review of Resource Economics
Vol. 2:1-11, October 2010; DOI: 10.1146/annurev-resource-040709-135059.
Here is an introduction:
In this second volume, the open prefatory chapter by William Baumol should not be missed. No other economist has made contributions that have touched as many areas in economic analysis, spanning all the way from the arts to the environment. Generations of environmental economists have learned and taught the basic concepts of environmental economics from Professor Baumol’s classic book, The Theory of Environmental Policy (with Wally Oates*). In his prefatory chapter, he not only provides an insider’s view of how the field of environmental economics emerged, but also reflects on his more recent unpublished contributions accounting for the cumulative and rapid rise in the real cost of health care, education, and performing arts activities and the resulting consequences on the environment.
The chapter begins with this "I was born and grew up in New York City ..." and includes several gems, including a table of "past petroleum prophecies (and realities)" and footnote 1:
It may amuse the reader to know that, on the one occasion when I attended a lecture by Pigou, I was delighted to hear him describe himself as an ancient octopus who had not yet ceased omitting streams of ink. No doubt the observation applies equally to the present author.
Finally, in case you were wondering:
The author is not aware of any affiliations, memberships, funding, or financial holdings that might be perceived as affecting the objectivity of this review.
*Note: Wally Oates gave the AERE Fellows talk at the AERE Luncheon during the ASSA meetings in Denver. It was titled something like "the early days of environmental economics." Cool stuff.
