1. ENVIRONMENTAL POLICY ANALYSIS: WHAT AND WHY? Why environmental policy analysis? Environmental issues are growing in visibility in local, national, and world arenas, as a myriad of human activities leads to increased impacts on the natural world. Issues such as climate change, endangered species, wilderness protection, and energy use are regularly on the front pages of newspapers. Governments at all levels are struggling with how to address these issues. Environmental policy analysis is intended to present the environmental and social impacts of policies, in the hope that better decisions will result when people have better information on which to base those decisions. Conducting environmental policy analysis requires people who understand what it is and how to do it. Interpreting it also requires those skills. We hope that this book will increase the abilities, both of analysts and of decision-makers, to understand and interpret the impacts of environmental policies. Policy analysis books almost invariably begin by pointing out that policy analysis can take many forms. This book is no different. As you will see in Chapter 1, we consider policy analysis to be information provided for the policy process. That information can take many forms, from sophisticated empirical analysis to general theoretical results, from summary statistics to game theoretic strategies.
Warren Buffett built Berkshire Hathaway into something remarkable— and Fortune journalist Carol Loomis had a front-row seat for it all. When Carol Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 Fortune article, she didn’t dream that Warren Buffett would one day be considered the world’s greatest investor—nor that she and Buffett would quickly become close personal friends. As Buffett’s fortune and reputation grew over time, Loomis used her unique insight into Buffett’s thinking to chronicle his work for Fortune, writing and proposing scores of stories that tracked his many accomplishments—and also his occasional mistakes. Now Loomis has collected and updated the best Buffett articles Fortune published between 1966 and 2012, including thirteen cover stories and a dozen pieces authored by Buffett himself. Loomis has provided commentary about each major article that supplies context and her own informed point of view. Readers will gain fresh insights into Buffett’s investment strategies and his thinking on management, philanthropy, public policy, and even parenting. Some of the highlights include: The 1966 A. W. Jones story in which Fortune first mentioned Buffett. The first piece Buffett wrote for the magazine, 1977’s “How Inf lation Swindles the Equity Investor.” Andrew Tobias’s 1983 article “Letters from Chairman Buffett,” the first review of his Berkshire Hathaway shareholder letters. Buffett’s stunningly prescient 2003 piece about derivatives, “Avoiding a Mega-Catastrophe.” His unconventional thoughts on inheritance and philanthropy, including his intention to leave his kids “enough money so they would feel they could do anything, but not so much that they could do nothing.” Bill Gates’s 1996 article describing his early impressions of Buffett as they struck up their close friendship. Scores of Buffett books have been written, but none can claim this work’s combination of trust between two friends, the writer’s deep understanding of Buffett’s world, and a very long-term perspective.
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