Ed. Geoffrey Heal. Is growth sustainable? Can we maintain current standards of living in the face of environmental changes? As the world economy is shaken by the global recession, these questions become even more critical. This book focuses on the problems that relate to the destruction of the natural infrastructure on which our economies depend, these include the extinction of species, radical changes to the Earth's climate and the depletion of natural resources. This volume addresses these issues in a rigorous yet accessible fashion, presenting the research of some of the world's leading scholars, to examine if current growth patterns are sustainable. The chapters offer new and original case studies and discussions, which not only indicate the cost of unsustainable behavior but also illustrate what institutional changes are required in order to minimize the downside of our environmental impacts, providing frameworks for a more sustainable economy. This book is essential reading for all interested in the economics of the environment.