Investors have too often extrapolated from recent experience. In the 1950s, who but the most rampant optimist would have dreamt that over the next fifty years the real return on equities would be 9% per year? Yet this is what happened in the U.S. stock market. The optimists triumphed. However,...

"PREFACE Comparing Environmental Policies in 16 Countries Draft: May 13, 2013 Teaching at Nanjing University in China as a Fulbright professor shaped this book into its final form. I spent the Spring semester of 2009 there at the School of the Environment. My manuscript was half done, and I used...