Hackett (economics, Humboldt State U.) presents the new edition of a textbook introducing environmental and resource economics to an undergraduate audience, as well is issues of sustainability and sustainable development. He begins with theory and fundamentals, covered in chapters discussing value systems and economic systems; the economics of market allocation; externalities, market failures, and policy interventions; and theory and concepts in the economics of natural resource systems. The next five chapters are presented under the heading "policy" and discuss the economics of marine capture fisheries; measurement and analysis of benefits and costs; the political economy of environmental regulation and resource management; monitoring, enforcement, and sanctions for regulatory compliance; creating economic incentives for environmental protection and resource management; and the science, policy, and economics of global climate change. Topics on the economics of sustainability are addressed last, in chapters covering an introduction to the concept of sustainability, recognizing interdependencies and thinking long term, sustainable economic development, issues in sustainable production and consumption, and issues in the economics of sustainable local communities. Annotation ⓒ2007 Book News, Inc., Portland, OR (booknews.com)