Profiles

The recent widely cited National Agricultural Lands Study (NALS) adds to the growing number of individuals and organizations holding the view that land resources are too important to be left to the "whims of market forces." In this view, there should be a shift from private ownership of land to...

The "free rider problem," arising from the fact that an individual may be able to obtain the benefits of a good without contributing to the cost, is discussed in a number of different contexts. In the case of a "public good" where the provider cannot exclude, a good which others provide for them-...

The early conservation movement in the United States was initiated by Theodore Roosevelt in 1908 when he called together a conference of state governors. The premise of the conservation movement, sometimes pointed to as Roosevelt's most lasting achievement, was that natural resources are being used...

The primary purpose of this paper is to contrast Austrian and conventional concepts of cost. Cost in the logic-of-choice context of conventional neoclassical economic theory is contrasted with subjective cost relevant to individual decision-making. The Austrian subjectivist concept of cost is shown...

The entrepreneur is a key figure in the market economy. In a dynamic economy, ideas, products, and services are constantly changing. Entrepreneurship, broadly defined, refers to actions of individuals as they strive to cope with constantly changing market conditions.1 When viewed in this way, all...