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Stocks versus Flows

When noneconomists use the term “stock,” they often mean ownership shares in enterprises that are traded on the “stock market.” To an economist, however, the concept of a stock refers to something as it is measured at a particular point in time.

Gene E. Likens is Institute President and Director of the Institute of Ecosystem Studies in Millbrook, New York. Dr. Likens’ research focuses on the ecology and biogeochemistry of forest and aquatic ecosystems, primarily through long-term studies at the Hubbard Brook Experimental Forest, in the White Mountains of New Hampshire.

Impact and abatement of acid […]

Tax subsidies are the result of selective tax legislation that benefit particular groups of people or industries in the economy. In effect, they share the costs of certain actions between the private sector and the government and impact investment decisions by increasing the expected returns associated with a particular pattern of economic activity.

The term “Risk Society” is a neologism coined by German sociologist Ulrich Beck, in his book Risk Society: Toward a New Modernity, first published in German in 1986 and translated into English in 1992. There is a long-standing tradition in intellectual thought of choosing society labels—e.g., Acquisitive Society, Open Society, Affluent Society, Civic Society, Post-Industrial Society, and so on—to capture the dominant theme or spirit of an age, or what Germans call its zeitgeist.

Flying west across the continent, the traveler notices a dramatic change in the American landscape—from wet to dry, from green forests and cornfields to sagebrush plains and harsh deserts with only scattered stands of trees at the higher elevations. For more than a century now we have called that dry half of the continent the West.

The International Council for Science (ICSU), in conjunction with the World Meteorological Organization (WMO), has designated 2007-2008 an International Polar Year. Activities are designed to focus the attention of the public and the scientific community on the need for greater understanding of the complex interrelationships between…

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The term ozone hole or Antarctic ozone hole refers to the seasonal depletion of stratospheric ozone in a large area over Antarctica. The chemistry behind the formation of the ozone hole was described by F. Sherwood Rowland, Mario Molina and Paul Crutzen…

In many respects, the scientific debate is irrelevant. For the business community, climate change represents an impending market shift – one that will both alter existing markets and create new ones. It will not be unlike shifts that have occurred in the past, when consumer needs changed, or technology advanced, and some companies declined while others rose to take their place.