Richard Stroup, Jane Shaw
Conventional economic wisdom, in a theory first propounded by Nobel laureate Paul Samuelson, holds that the unregulated market cannot be expected to protect the environment. In this theory, clean air and water are "public goods" whose value is not well reflected by market processes.
Terry Anderson, Jane Shaw
This essay explains how the well-accepted principles that explain market behavior and underlie prosperity also explain environmental problems and offer ways to solve them.