The Environment

This paper examines several problematic aspects of George Reisman’s Capitalism: A Treatise on Economics , specifically, five problems in the economics of natural resources. 

Austrian economics lacks a formalized, self-conscious theory of environmental economics. But in fact all of the major elements of such a theory already exist and in that sense what

Almost nowhere, however, are lay readers presented with a more sober and realistic perspective according to which the institutional framework of market economies has always been conducive to greater resource 

The Hotelling Principle defines socially-optimal conservation of an exhaustible resource i a mathematically-defined, equilibrium environment in which no human action can occur.

Let us begin our analysis by making the distinction between free markets in their pure, laissez faire or capitalist dimension, on the one hand, and market socialism on the other. 

The early conservation movement in the United States was initiated by Theodore Roosevelt in 1908 when he called together a conference of state gove

The following essay attempts to touch on one aspect of modern environmentalism and to examine it against the backdrop of the values associated with

Volume 23, Number 1 (Spring 2003)

(Summer 1998)

An Interview With Randall G. Holcombe

In Guns, Germs, and Steel (1997) and Collapse (2005), Professor Jared Diamond argues that geography and environment are the “ulti