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Enviropreneurs Expunge Externalities

Wikipedia—externality: an impact on a party that is not directly involved in the transaction. PERC—enviropreneur: a person who has no patience for externalities. For several years, I have been on a campaign to expunge the term “externality” from the vocabulary of economists, policy makers, and environmentalists. My campaign is not motivated by a belief thatContinue reading “Enviropreneurs Expunge Externalities”

In Praise of the 10,000 Mile Diet

  The 100-Mile Diet, inspired by Alisa Smith and J.B. MacKinnon who participated in a one-year experiment in local eating, led thousands of individuals to change the way they eat. “Eat local” has become a mainstream mantra of those who claim that increased local food production and consumption have significant economic, environmental, and social benefits.Continue reading “In Praise of the 10,000 Mile Diet”

The importance of transferable ownership

Property rights enable humans to acquire, use, and dispose of assets. There is a burgeoning literature on the importance of secure property rights in promoting economic prosperity, improving environmental protection, and ensuring individual liberty. A recent addition to this literature by Randall Akee (2009) shows just how important it is that the transfer (sale orContinue reading “The importance of transferable ownership”

Living in the new wild west

Ecological abundance. That’s not a pairing of words you hear too often these days. It’s more common to hear of ecological distress. However, both opportunities and problems associated with great ecological abundance may be seen in Montana’s Madison Valley. Lying just northwest of Yellowstone National Park, the Madison presents an eyeful. Vast herds of elk,Continue reading “Living in the new wild west”