Long before the EPA was a glint in anyone's eye, property rights were dealing with pollution issues. Watch as PERC's Terry Anderson discusses free market solutions to pollution and other environmental conflicts with John Stossel on Fox Business Network.
Focusing on externalities distracts economists from understanding how bargaining can solve problems without government intervention.
In this interview on the John Batchelor Show, Terry Anderson contrasts the SO2 trading platforms in the United States with the European Carbon emission trading programs. He discusses why SO2 had promise initially, and what caused that market to collapse.