Is there room for innovation in national forest management? In PERC's latest report, Robert Nelson proposes "charter forests" as a new management approach.
Property rights are essential for market exchange. The definition of those rights, their enforcement, and their transferability all help determine the extent of trade and the rate of economic development and wealth creation.
Economist, n. a scoundrel whose faulty vision sees things as they really are, not as they ought to be. —after Ambrose Bierce
In open-access settings, high-quality resources are lucrative; yet keeping out potential entrants may be extremely costly.
The public trust doctrine is a little-known bit of legal history that is now touted as an ancient rule of law that allows governments to control property long presumed to be privately owned.
How fishery management practices have lead to severely depleted fish populations.
Overfishing in the oceans is a classic example of the "tragedy of the commons"-- overexploitation of an unowned resource. Fishing in U.S. waters is no longer a commons free of fishing restrictions, yet many fisheries still suffer from the tragedy of the commons.
Since the late 1980s, many Americans across the country have found that they cannot farm, ranch, or build homes on portions of their land. Why?