ABSTRACT

It is with some diffidence that I approach a problem area which, with respect to private and public investment and to effective public policies, is one of the most significant underdeveloped areas in the economics of natural resources. This is true no less domestically than abroad. In the terminology of my assignment, this is the area of managing the quality of natural resources or, for short, the problem of quality management. I prefer this broader concept to the more usual term "pollution control."