Since the 1992 Earth Summit, there have been increased efforts on an international scale to address global climate change. Reducing the increased levels of CO2 and other "greenhouse gases," which are believed to be contributing to this climatic change, will require major effort on the part of the world's governments. This means that the environmental, economic, social, and political consequences of climate change must be understood, and that strategies to mitigate climate change must also address these issues. The workshop detailed in this book concentrated on how economic principles and analysis could contribute to the planning of forestry projects aimed at affecting terrestrial carbon balances. More than 30 international scientists came together for one week near Stockholm, Sweden and divided into working groups charged with addressing a specific issue and preparing a paper within this time frame. This book contains the majority of papers presented at this meeting, and includes both the working group papers and the individually presented papers.

The Economics of Land Use brings together the most significant journal essays in key areas of contemporary agricultural, food and resource economics and land use policy. The editors provide a state-of-the-art overview of the topic and access to the economic literature that has shaped contemporary perspectives on land use analysis and policy.

The text provides literature surveys on relevant modeling issues and policy concerns. It demonstrates the application of a modeling system using a "base case" 50-year projection and a small set of scenarios. These illustrate, for example, the effects of changes in public harvest policies, variations in investments in silviculture, and globalization. It is aimed at policy makers, researchers and graduate students who are building or using forest sector models.

This book draws together contributions from forest economists in the Research Triangle of North Carolina, with co-authors from institutions around the world. It represents our common belief that rigorous empirical analysis in an economic framework can inform forest policy. We intend the book as a guide to the empirical methods that we have found most useful for addressing both traditional and modem areas of concern in forest policy, including timber production and markets, multiple use forestry, and valuation of non-market benefits. 'The book editors and most chapter authors are affiliated with three institutions in the Research Triangle: the Southern Research Station of the USDA Forest Service (K. Abt, Butry, Holmes, Mercer, Moulton, Prestemon, Wear), the Department of Forestry at North Carolina State University (R. Abt, Ahn, Cubbage, Sills), and the Environmental and Natural Resource Economics Program of Research Triangle Institute (Murray, Pattanayak). Two other Triangle institutions are also represented among the book authors: Duke University (Kramer) and the Forestland Group (Zinkhan). In addition to our primary affiliations, many of us are adjunct faculty and/or graduates of Triangle universities. Many of our co-authors also graduated from or were previously affiliated with Triangle institutions. Thus, the selection of topics, methods, and case studies reflects the work of this particular network of economists, and to some degree, our location in the southeastern United States. However, our work and the chapters encompass other regions of the United States and the world, including Latin America and Asia.

Towards the Balance and Management of the Carbon Budget of the Biosphere The current state of misunderstanding of the global C cycle and our failure to resolve an issue that has been debated for 100 years (Jones and Henderson-Sellers, 1990) speaks loudly about the limitations of modem science when faced with the complexity of the biosphere. Efforts to understand and balance the global C budget have gone through several phases. First was a holistic view of the C budget as part of efforts to understand the geochemistry of the Earth (e. g. , Clarke, 1908). Next, came a period of data collection and sythesis which focused on the diversity of sectors of the biosphere. This phase culminated in the early 1970's with the realization that humans were greatly impacting the global C cycle as measured at the Mauna Loa Observatory (Keeling et al. , 1973). New syntheses of the global C budget emerged at this time (Woodwell and Pacan, 1973; Bolin et al. , 1979). The next phase was one of controversy and intense focus on particular sectors of the biosphere. The controversy rested on discrepancies about the role of the terrestrial biota in the global C cycle and the failure to account for sufficient C sinks to absorb all the C emitted by land-use change in the tropics (Woodwell et al. , 1978, 1983; Houghton et al. , 1983).