The Economics of Forestry


    THIS book, the author states, is founded upon courses of lectures given in the Oxford School of Forestry and the Imperial Forestry Institute. The treatment of the subject differs from that followed by Schlich in his well-known “Forestry Manual”, which has been used by generations of British-trained foresters. It is not at first sight easy to follow the author in his methods. The first part of the book is devoted to timber supplies, consumption, and prices, compiled from trade statistics in several parts of the world, and from other authors. In Part II. Hiley treats of finance and its importance. But it differs from Schlich's well-known “Valuation and Management” (vol. 3) in that Hiley has jettisoned most of the accepted formulae of ‘forest valuation’. The author admits that some of the formulae omitted may in the future prove useful. If this is the case, the student should be made acquainted with them.

    The Economics of Forestry.

    W. E. Hiley. (Oxford Manuals of Forestry.) Pp. xiv + 256. (Oxford: Clarendon Press; London: Oxford University Press, 1930.) 21s. net.

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    The Economics of Forestry . Nature 127, 267–268 (1931).

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