Editor's Note
"This is the second in our series on the New Ranch. This edition focuses on the Economics of the New Ranch, with perspectives by ranchers, economists and environmentalists."

Contents:

• "CRISIS, CHANGE, AND GROWTH: Ranching for Profit" -Cathy McNeil
• "From the Founders" -Jim Winder, Courtney White, Barbara Johnson
• "Putting Profit Into Ranching" -Stan Parsons
• "Some Thoughts on the Conditions of Rangelands in New Mexico" -Thomas Jervis
• "Economics vs. Ecology" -Roger Bowe
• "Profile of Good Stewarship: The Flying M and the Diablo Trust"
• "Quemado Project Update"
• "The Far Horizon" -Courtney White
• "Confessions of an Environmental Traitor" -Norm Wallen