There is a widespread recognition that we need to revise our methods of measuring national income to incorporate better the impact of economic activity on environmental assets. Our aim here is to investigate alternative concepts of national income in a dynamic economy, one a generalization of...

I survey and assess the development of continuous-time methods in finance during the last 30 years. The subperiod 1969 to 1980 saw a dizzying pace of development with seminal ideas in derivatives securities pricing, term structure theory, asset pricing, and optimal consumption and portfolio...