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Review of Environmental Economics and Policy 2007 1(1):7-25; doi:10.1093/reep/rem001
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Copyright © The Author 2007. Published by Oxford University Press on behalf of the Association of Environmental and Resource Economists.

A Celebration of Environmental and Resource Economics

Geoffrey Heal*

* Columbia University Graduate School of Business and School of International and Public Affairs

gmh1{at}columbia.edu

This paper presents a rather personal review of the state of environmental and resource economics, preceded by some comments on the evolution of the field. It moves from the history of the subject to the evolution of the Hotelling Rule and then via oil markets on to climate change, natural capital, ecosystem services, greening national income and sustainability.

2006 is the seventy-fifth anniversary of the publication of Harold Hotelling's article "The Economics of Exhaustible Resources" (1931), which in my opinion marks the foundation of analytical environmental and resource economics. I would like to dedicate my article to a celebration of this anniversary.


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