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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”

One Step Closer to Superfund Sanity

The federal Superfund program was enacted in 1980 to speed the cleanup of abandoned hazardous waste sites and hold polluting companies responsible. It was supposed to be “shovels first, lawyers later.” Instead, lawsuits proliferated and cleanups stalled. Though premised on the “polluter pays” principle, Superfund often caused polluter and non-polluter alike to overpay for minimalContinue reading “One Step Closer to Superfund Sanity”