Along the coast of South Carolina, private island communities-Sea Pines on Hilton Head Island and entire islands such as Seabrook, Kiawah, Dewees, Dataw, Daufuskie, and DeBordieu-are protecting their beaches and other environmental resources. They are not doing this because of government regulation but in order to maximize the value of their investments. Extensive resortContinue reading "Banking On Wetlands"
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Late 19th-century storm warnings from the U.S. Weather Service yielded substantial, positive net returns to society. Economists are notorious for using both sides of our mouths when talking about the government. We claim that government has a comparative advantage in provision of so-called public goods, such as national defense, the creation of property right systems,Continue reading "Banking On Wetlands"
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The Florida Wetlandsbank is transforming a weed-choked, garbage-strewn tract near Pembroke Pines into a pristine wetland, creating a product in high demand by local developers.
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When you drive into Hoffman’s near Albany, New York, for an oil change and a car wash, you’re doing a favor for your car, a good turn for the environment, and you are supporting a growing business. Tom Hoffman Sr. is using the oil that he drains from your crankcase to heat the water forContinue reading "Banking On Wetlands"
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The lowly poplar tree is well on its way to becoming the new hero of environmental cleanups. Fast-growing hybrid poplars can provide an economical and reliable way to clean contaminants from the soil. Scientists have found that poplars absorb a variety of chemicals which they safely store or release into the air as less volatileContinue reading "Banking On Wetlands"
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When a 930-acre farm went on the market near Yellow Springs, Ohio, a town known for its 1960s counterculture ambiance, the residents went to battle in the marketplace. Fearful that developers would buy the property at auction, residents earmarked $400,000 from a greenspace fund and organized an array of fund-raising events. A concert along withContinue reading "Banking On Wetlands"
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Shark fishing had been a way of life for generations of Donsol residents. Families in this tiny village in the Philippines relied on the giant, docile whale shark for their main source of income until overfishing made the shark increasingly scarce. With guidance from the World Wildlife Fund, however, the villagers have created a newContinue reading "Banking On Wetlands"
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The reclaimed wood industry which began in the Northeast is now taking hold in the Northwest. As sources of old-growth timber dwindle and environmental awareness grows, old wood is much in demand. Duluth Timber Company, a Minnesota-based firm, is doing a booming business in Seattle selling reclaimed wood from demolished homes, factories, warehouses, and evenContinue reading "Banking On Wetlands"
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Early in the summer of 1969, the Cuyahoga River caught fire. Piles of logs, picnic benches, and other debris had collected below a railroad trestle, which impeded their movement down the river. These piles only lacked a spark to set them afire. A passing train with a broken wheel bearing probably provided that spark,Continue reading "Banking On Wetlands"
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Environmental regulations, not opposition to environmental protection, were the genesis of the private property rights movement.
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