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.
Terry Anderson, Laura Huggins
In the past, the economy of the western United States depended on converting natural resources into lumber, metals, and hydroelectricity. More recently, the relationship to natural resources has moved from extraction toward protection. But this shift has led to acrimony and gridlock.