New paper in the Journal of Law, Economics & Policy explores the linkages between ecology and economics through the lens of Austrian economics.
Focusing on externalities distracts economists from understanding how bargaining can solve problems without government intervention.
Cliven Bundy's battle was born out of a broken system that encourages conflict, not negotiation.
When environmental groups buy ranchers' permits, there's no need for the feds to start rustling up trouble.
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
There has been plenty of confusion surrounding the work of