ABSTRACT
Modern environmentalism has tended to embody a deep suspicion of economists. It is not hard to see why. At the most obvious level, economic theory has provided-indeed continues to provide-the underpinning for many environmentally destructive practices. Moreover, in the 1970s and 1980s, the environmental movement gained popular strength partly as an implicit counter to political-economy doctrines about the imperatives of undifferentiated economic growth and about the supposedly central role of markets as sources of human welfare.
