The editors state up front in their preface that the aim of economics is the study of “stuff” – how it is bought, sold, and used; its costs, benefits, and policies; and whether it is conserved or not conserved, etc. The “stuff” of this single volume encyclopedia is the definitions, descriptions, contributions, and techniques of economics and economists applied to many of the environmental and natural resource contexts and issues. What is missing are more of the intrinsic contributions of the natural environment to maintaining life on Earth. The book would benefit from more emphasis on the well-being of humans and all other species beyond the excellent discussion of ecosystem services (117–120).

Among the many useful and clearly written entries is the one called “Books.” It is a short essay and bibliography of texts and other books important to the understanding of economics and human decisions on ecology and the environment.

The contributions of the selected economists to the environment, such as the understanding of conservation (Dr. John V. Krutilla, 202), environmental valuation (Sherwin Rosen, 285), and interpreting economic ideas to policy makers (George S. Tolley, 305) and others will lead users to want to learn more about their ideas and influence.

The “Value of Statistical Life” entry (330) is fascinating and troubling. While recognizing that life is precious, and protecting it is always the balancing of risks and affordability or a benefit cost analysis, it is discussed as primarily individual decision making. The concept is presented as individuals making choices rather than living with and under the political policies, corporate profit motive, and governmental agency definitions that limit the choices individuals have. Readers should also read the “Precautionary Principle” entry (264) to understand valuing life and dealing with risks, as well as just using statistical life as the major metric.

This encyclopedia can be read cover to cover to get an overview of some of the principles (economic and political) that are essential to environmental and natural resource economics. It is available as an e-book, but serendipity while leafing through the print edition will lead to reading such entries as “Hedonic Price Method” (178) or “Natural Monopoly” ( 220), concepts which might not be found when looking for specific definitions in the e-book.

This is an important resource for students, faculty, and the general public to learn more about some of the concepts and economists involved in the application of economic ideas to the environment. As John C. Whitehead reminds all in his entry on “Earth Day,” Gaylord Nelson’s statement about the significance of the first Earth is still true. Whitehead says, “the efficient management of the earth’s resources is still one of the most fundamental issues that society faces” (115).