Is it possible to combine modern tropical agriculture with environmental conservation? Brazilian agriculture offers encouraging examples that achieve high production together with adequate environmental protection. However, these effective practices may soon lose ground to the conventional custom of resource overexploitation and environmental degradation.

A revision to the Forest Act, the main Brazilian environmental legislation on private land, has just been submitted to Congress, and there is a strong chance that it will be approved. The proposed revision raises serious concerns in the Brazilian scientific community, which was largely ignored during its elaboration. The new rules will benefit sectors that depend on expanding frontiers by clear-cutting forests and savannas and will reduce mandatory restoration of native vegetation illegally cleared since 1965. If approved, CO2 emissions may increase substantially, instead of being reduced as was recently pledged in Copenhagen. Simple species-area relationship analyses also project the extinction of more than 100,000 species, a massive loss that will invalidate any commitment to biodiversity conservation. Proponents of the new law, with well-known ties to specific agribusiness groups, claim an alleged shortage of land for agricultural expansion, and accuse the current legislation of being overprotective of the environment in response to foreign interests fronted by green nongovernmental organizations. However, recent studies show that, without further conversion of natural vegetation, crop production can be increased by converting suitable pastures to agriculture and intensifying livestock production on the remaining pasture. Brazil has a high potential for achieving sustainable development and thereby conserving its unique biological heritage. Although opposed by the Ministry of the Environment and most scientists, the combination of traditional politicians, opportunistic economic groups, and powerful landowners may be hard to resist. The situation is delicate and serious. Under the new Forest Act, Brazil risks suffering its worst environmental setback in half a century, with critical and irreversible consequences beyond its borders.

The 2008–2009 financial crisis demands we look anew at the role of corporations, and the working of financial markets around the world. In this challenging and insightful book, one of our most eminent economists provides a compelling new analysis of the corporate firm; the role of shareholders, managers and workers; and institutional governance structures.

In recent decades the firm has predominantly been seen as an organization run and governed in the interests of shareholders, where management acts as the agent of shareholders, and the workers simply as instruments for share-value maximization. This book reverses this viewpoint. It sees corporations as associational cognitive systems where "cognitive actions" are distributed amongst managers and workers, with shareholders supplying "cognitive tools" and monitoring their use in the systems. Aoki analyses the different relationships that can exist between shareholders, managers, and workers from this perspective, and identifies a range of different models of organizational architecture and associated governance structures. He also discusses ways in which corporations act as players in social, political, and organizational games, as well as global economic games; how these inter-related social dynamics may change particular, distinctive national structures into the diversity incorporated in the global corporate landscape; and how they now call for new roles for financial markets.

"Masahiko Aoki uses the social mathematics of game theory to reveal the deep structure of corporate governance systems, in the process explaining the persistence of diversity under conditions of globalization. His profound and highly original analysis speaks directly to the issue of corporate governance reform in the aftermath of the financial crisis of 2008–9."
-Simon Deakin, Professor of Law, University of Cambridge
"The recent wave of fraud, corruption, and fiscal irresponsibility at the highest corporate levels dramatizes the need for a model of the modern corporation that is at the same time deeply economic in the recognition of the centrality of incentives, and deeply sociological in the recognition of the centrality of social norms and a culture of corporate morality. Professor Aoki has combined his magisterial knowledge of business organization with a foundational study of the role of culture in epistemic game theory to produce, for the first time, a truly transdisciplinary model of the corporation."
-Herbert Gintis, Santa Fe Institute
"This is a path breaking book that provides a rigorous analysis of the cognitive underpinnings of corporations. It gives fundamental insights into the diversity of organizational forms that exist and the association of these with the historical, political, social, and technological contexts within which they operate. As with so much of Professor Aoki's work, it will radically alter the way in which we view the corporation."
-Colin Mayer, Peter Moores, Dean, Saïd Business School, University of Oxford
"A pioneering contribution which formalizes in game theoretic language complex institutional structure and environment of the corporation both at a moment of time and over time."
-Douglass C. North, Nobel Laureate in Economics 1993, Spencer; T. Olin Professor in Arts and Sciences, Washington University in St. Louis

Over the past two decades, Indonesia's coal industry has transformed itself from being an unknown, minor player in Asia's coal markets to the world's largest exporter of steam coal. In what is likely the most detailed analysis of the Indonesian coal industry ever released, Dr. Bart Lucarelli tells the story of how Indonesia created this world-scale industry over two decades despite challenges created by widespread government corruption, a weak legal system, the Asian Financial Crisis of 1997, and the fall of the Soeharto government in 1998.

The paper argues that key physical and technical factors, along with regulatory and political factors, have acted as the primary drivers of the industry's phenomenal growth over the past two decades and will be the most important factors for consideration over the next two decades.  It also discusses current estimates of Indonesia's coal resources and reserves, the role played by location and geological factors in the development of its coal resources, the future impacts of the passage of Indonesia's Mining Law of 2009 and its related implementing regulations, and how these issues might affect the coal industry's structure and performance before 2020.