Saving Ocean Fisheries with Property Rights is the first in a series of PERC videos that will document how Free Market Environmentalism solves real-world conservation problems. Don Leal, PERC’s research director, and Mark Lundsten, a former boat captain on the Bering sea, combine research and real life to tell what happens when open access fishingContinue reading “Saving Ocean Fisheries with Property Rights”
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Fair-trade coffee producers often end up poorer
By Lawrence Solomon Coffee is one of our guilty pleasures, and not only because of the calories that can be packed into a double latte. Many of us feel guilty that our pleasure is coming at the expense of the Third World coffee farmer, so much so that we gladly pay more for “fair-trade”Continue reading “Fair-trade coffee producers often end up poorer”
The Non-tragedy of the Bison Commons
M. Scott Taylor, in a forthcoming article in the American Economic Review, provides important evidence about the driving force behind the rapid killing of bison on the Great Plains between 1870 and 1883. Taylor’s explanation of the rapid expansion of foreign demand for hides because of technological innovations in tanning is convincing. Taylor usesContinue reading “The Non-tragedy of the Bison Commons”
Ethanol Mania
Henry Miller at the Hoover Institution had a great piece in the Guardian yesterday–“The Great Fuel Fail.” Rather than just simply stating that the production of ethanol for fuel is an unwise subsidy to special interests, Henry puts some perspective on the ethanol mania. Although corn is a renewable resource, it has a far lower energy yield relative toContinue reading “Ethanol Mania”
The Value of Secure Property Rights: Evidence from Global Fisheries
That’s the title of a new NBER Working Paper by Corbett A. Grainger and Christopher Costello. The abstract: Property rights are commonly touted as a solution to common pool resource problems. But in practice the security of these property rights varies substantially owing to differences in design. In fisheries, the design of individual transferable quotasContinue reading “The Value of Secure Property Rights: Evidence from Global Fisheries”
Selling Assets to Meet Liabilities
Selling assets to meet liabilities; that is what people do when they have reached the end of their finances and are not credit worthy for a loan or do not want to further extend their financial liabilities. What a novel idea for the U.S. government that has a running budget deficit of $1.36 trillion andContinue reading “Selling Assets to Meet Liabilities”
Master Teacher Dan Benjamin Retires from Clemson
Professor Dan Benjamin is retiring from Clemson University. As a long-time advocate of free markets, Dan likely underestimates the significance of this loss to the school and, in particular, the John E. Walker Department of Economics. He likely expects the department to find a substitute in the marketplace, perhaps one with lower opportunity costs andContinue reading “Master Teacher Dan Benjamin Retires from Clemson”
More on hydraulic fracturing
From Ron Bailey: Just as for conventional wells, it is possible that natural gas can escape into aquifers if the wells are not properly sealed using steel and cement casings. A new study in the Proceedings of the National Academy of Sciences published today finds elevated levels of natural gas in groundwater wells within 3,000 feet of active gasContinue reading “More on hydraulic fracturing”
Watch Terry Anderson on Stossel
PERC’s Terry Anderson made an appearance on Stossel Friday night to discuss the causes of American Indian poverty. The video is here: For more from Terry on property rights and Indian reservations, see the following related links: Un-American Reservations, essay with Dominic Parker Sovereignty, Credible Commitments, and Economic Prosperity on American Indian Reservations (2008), JLE article with DominicContinue reading “Watch Terry Anderson on Stossel”
Rural areas most vulnerable to climate change
By Matthew Kahn In Climatopolis, I argue that urban growth will help us to adapt to climate change. Cities make us richer (due to trade, learning and specialization) and income will help people to adapt to the challenge of climate change. Productivity in cities takes place indoors and is more immune to climate conditions thanContinue reading “Rural areas most vulnerable to climate change”