For Immediate Release: June 23, 1998

San Francisco -- A newly published book by the Pacific Research Institute for Public Policy makes available to judges, lawyers, academicians, and the general public, the collection of classic readings in environmental economics -- including works by Nobel Prize winners Milton Friedman, Ronald Coase, Friedrich Hayek, Gary Becker, and James Buchanan.

The book, entitled Federal Judge's Desk Reference to Environmental Economics, emphasizes the constructive potential of private property rights, market incentives, and voluntary arrangements as people seek economic progress and environmental quality while preserving liberty.

According to John A. Baden, the book's editor: "The book is an invaluable reference book on the key concepts of environmental economics -- economic coordination, property rights and transaction costs, marginal analysis, externalities, common pools, public choice, and risk and tradeoffs."

When reviewing the key concepts, the reader finds that an understanding of environmental policy needs to be based on rigorous analysis rather than the ideology, emotion, and misinformation so commonly accepted by mainstream environmentalists and political ecologists.

After reading this one-of-a-kind book, Chief Judge of the United States Court of Federal Claims Loren A. Smith said: "For those who want to understand our place in the natural world and its relationship to human liberty and prosperity this work is a must."

For more information or additional copies of the book, please contact Jennifer Berkowitz at 415/989-0833.

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The Pacific Research Institute for Public Policy is a non-profit organization dedicated to the promotion of the principles of individual freedom and personal responsibility. The Institute believes these principles are best encouraged through policies that emphasize a free economy, private initiative, and limited government. By focusing on public policy issues such as health care, welfare, education, and the environment, the Institute strives to foster a better understanding of the principles of a free society among leaders in government, academia, the media, and the business community.