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Resolving global environmental and economic problems requires a new kind of international cooperation among nations. Only if the Northern industrialized nations set their own houses in order can this cooperation be achieved.

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As the 21st Century approaches, the world is being impoverished as its most fundamental capital stock--its species, habitats, and ecosystems--erodes. Not since the Cretaceous era ended some 65 million years ago have losses been so rapid and great.

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Under current national income accounting practices, assets such as buildings and equipment are valued as productive assets and depreciated over time; natural resource assets are not. This asymmetry is the way national assets are treated sends misleading signals to policymakers.

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Focusing on the role of energy in the global economy, this frequently quoted report notes that unstable and unstainable energy prices have brough about many problems -- high inflation rates, world recession, and mountind debt burdens.

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The inaugural 1986 edition features a special chapter on multiple pollutants and forest decline and focuses attention on a number of important issues: the environment and human health; tropical deforestation; the atmosphere as a shared resources; soil degradation; the relationship of population a

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