Focusing on externalities distracts economists from understanding how bargaining can solve problems without government intervention.
Terry Anderson, Shawn Regan
In the Wall Street Journal, Terry Anderson and Shawn Regan explain how Washington rules prevent tribes from developing resources that could help lift them out of poverty.
PERC Senior Fellow Emeritus Bruce Yandle talks with EconTalk host Russ Roberts about the tragedy of the commons and the various ways that people have avoided the overuse of resources that are held in common.
PERC Senior Fellow Bruce Yandle orginated the theory of Bootleggers and Baptists in the early 1980s. In essence, two different groups suppor the same, regulations, but benefit from different effects of the regulation. Has anything changed?