Linda Platts

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 "Betting on the Wealth of Nature"

Daniel Benjamin

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 "Betting on the Wealth of Nature"

Terry Anderson

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 "Betting on the Wealth of Nature"

James Salzman

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 "Betting on the Wealth of Nature"

James Salzman

A Letter to the Editor

From Jim Salzman, Professor of Law, Nicholas Institute, Professor of Environmental Policy, Duke University

Terry Anderson

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 "Betting on the Wealth of Nature"

Tim Fitzgerald

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 "Betting on 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"

Brian Yablonski

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 "Betting on the Wealth of Nature"

Ross B. Emmett

Betting on the Wealth of Nature

Simon’s claims can now be put to the test for the entire twentieth century. Despite ups and downs in prices over the course of the past century, a wager in 1900 would have been won in 1999 by the person who predicted a decrease in natural resource prices. (Prices are adjusted for inflation using 1998Continue reading "Betting on the Wealth of Nature"