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From the Publisher'The core of Kneese's argument can be summarized as follows. Water pollution is a classic example of a 'technological external diseconomy.' By virtue of a technical link between production processes, the costs of a given action are borne by economic units other than those performing the action. Specifically, in water pollution a waste discarder pays nothing for the use of a valuable resource and imposes economic costs on other economic units downstream... The book contains many provocative and useful notions, including some well-stated counters to an extreme 'conservation' position...the book is an important contribution to resource economics, and I expect its readers will find it a sound investment...'
Irving Hoch, University of California, Berkeley