The death this week of Ronald Coase, one of the world's most-cited economists, comes at a time when there is lively debate about the very issue he raised: why neither markets nor government are panaceas.
The existence of “externalities” — effects (costs or benefits) of market transactions that are not experienced by those involved in the transaction, but are instead experienced by others, those “external” to the transaction — is routinely proffered as a justification for governmental regulation
Tribes that can resist the temptation to extract wealth at the expense of future growth have the best hope of overcoming poverty and becoming truly sovereign.
There has been plenty of confusion surrounding the work of
PERC's workshop, "Tackling the Global Fisheries Challenge," took place last week. Fisheries specialist for the World Bank, Michael Arbuckle, discusses rights-based fisheries reform in developing countries.
PERC begins a colloquium this week on property rights and liberty in Native American societies. The program focuses on the historical emergence of property rights and how these rights have impacted Native Americans.