The Montana school agrees. All resources should become property rights. Give the rights to the fish to Omega Protein & they will manage it effectively -- just as the logging companies do.
On Thu, Jun 21, 2007 at 02:44:02PM -0700, Jim Devine wrote: > On 6/21/07, Julio Huato <[EMAIL PROTECTED]> wrote: > > Jim Devine wrote: > > > > > BTW, overfishing is a example of > > > market failure that's well known > > > even among neoclassicals (the > > > "tragedy of the commons"). Why > > > don't they respond? > > > > An example of market failure? > > it's one that I heard about in grad school (concerning common-property > resources or common-pool resources). Has it been dropped from the > official list? They promised they'd call me before they did anything > like that. ;-) > -- > Jim Devine / "The price one pays for pursuing any profession or > calling is an intimate knowledge of its ugly side." -- James Baldwin -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com
