Nobel Laureate sees promise in the future of the environment using markets.
When Donald Leal and I wrote Free Market Environmentalism in 1991, we mostly theorized about how property rights and markets could enhance environmental quality. We focused more on political failures than market successes because there were more of the former than the latter.
Life has never been easy in the poor Western Cape township of Vyeboom, South Africa. Yet many illiterate, rural people migrated there from Eastern Cape Province seeking work picking fruit. Instead, they have found a promised land, of sorts, picking snails.
PES model needs replicating Coming from another Latin-American country, it was very informative for me to see [in “Bees and Barbed Wire for Water,” December…