Book Notes “Economics and Social Sciences” 1/2019
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Thomas Aronsson, Kenneth Backlund and Karl-Gustaf Löfgren: Environmental policy, sustainability and welfare: An economic analysis. Cheltenham: Edward Elgar, 2018. ISBN: 978-1-78195-511-6. 200 pp., GBP 20.95.
This is a comprehensive textbook that addresses important relationships between economics and environmental policy, highlighting in particular the role of taxation. It also connects environmental policy to social accounting by describing how measures of welfare and sustainable development depend on whether policies successfully internalize market failures. The authors discuss how the modern literature on environmental taxation and tradable permits has evolved. Environmental taxation is examined from a purely corrective perspective, and as part of a broader system of optimal taxation that reflects distributional objectives. Cost–benefit rules of environmental policy reforms are also examined. The book is organized in seven chapters covering a brief history of economics and...