In years past, the most prestigious wineries in Napa Valley, Calif., were the most pristine. Not a weed to be seen, just a perfect monoculture—row upon row of meticulously tended grape vines. Today, one of Napa Valley’s premier wineries, Shafer Vineyards, is boasting a new look. Its appearance is trashy, chaotic, and unkempt. Growing amongContinue reading “Superb Wines from Green Acres”
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Carpet Scrap Power
Although the idea has been around for a long while, carpet manufacturers in Dalton, Georgia, the “Carpet Capital of the World,” think they have finally got it right this time. For years, the industry has sought a way to power its carpet and rug factories with the wasted rejects, overruns, and scraps that are anContinue reading “Carpet Scrap Power”
Clean Air, Expensive Houses
The Environmental Protection Agency has been regulating air pollution in the United States for more than thirty years. Thus far, we know remarkably little about what benefits we are getting for the $30-plus billion the nation spends each year on this endeavor. Recent research by Kenneth Chay and Michael Greenstone (2005) has made an importantContinue reading “Clean Air, Expensive Houses”
The Next Generation of Environmental Leaders
Eighteen young conservationists spent the month of June in Bozeman, Montana, attending the Kinship Conservation Institute. At KCI they learned about, discussed, and critiqued free market environmentalism. PERC has teamed up with the Kinship Foundation to produce this unique program for the past five years. During the month Kinship fellows heard lectures on topics suchContinue reading “The Next Generation of Environmental Leaders”
What Paying for Ecosystem Services Means
Mark Sagoff’s piece, ‘The Catskills Parable,’ (June 2005) recounted the decision of New York City to invest in land management and infrastructure changes in the Catskills and Delaware watersheds rather than build a water treatment plant. Sagoff makes a number of factual corrections that improve the accuracy of the Catskills story (e.g., more funds haveContinue reading “What Paying for Ecosystem Services Means”
A Letter to the Editor
From Jim Salzman, Professor of Law, Nicholas Institute, Professor of Environmental Policy, Duke University
Capturing the Wealth of Nature
To economists and policy makers, the term “New West” describes a region that is experiencing increasing demand for amenities from natural resources—demand for more open space, scenic beauty, and relatively untouched landscapes.1 The “Old West,” in contrast, was based on demand for commodities such as timber, agriculture, and minerals. The Old West is illustratedContinue reading “Capturing the Wealth of Nature”
Quantifying the Wealth of Nature
To many, the terms ecosystem services and ecosystem valuation sound obscure and complex. But for a growing number of economists, government officials, and financiers, quantifying the benefits of clear-running streams, standing forests, and other natural processes is an idea whose time has come. The Economist (2005) recently devoted a cover story to the challenges ofContinue reading “Quantifying the Wealth of Nature”
Distorting the Wealth of Nature
By Thomas Tanton There are too many forms of subsidies and favoritism to determine accurately which energy sources get the best treatment. But those who argue that their technology should receive more in order to compensate for another technology’s subsidies are being disingenuous. When Congress debates energy policy every few years, long-simmering battles over subsidiesContinue reading “Distorting the Wealth of Nature”
Marketing the Wealth of Nature
The kayak slides quietly through the tannic waters of a creek flowing into Western Lake, a rare freshwater coastal dune lake along the shores of the Gulf of Mexico. Up ahead, perched on a cypress snag, a blue heron plays the role of lonely sentinel guarding this piece of wild Florida. As I passContinue reading “Marketing the Wealth of Nature”