I recently came across two indices, which are measuring two on the surface unrelated things – property rights and environmental standards across different countries.
However, anybody who ever read Ronald Coase would know that according to Coase the best way to manage externalities (read pollution) is to have well-defined property rights. Note I am simplifying Coase’s message a lot here, but nonetheless this is basically at the core of what some have called Free Market Environmentalism.
The first index is the International Property Rights Index (IPRI) published by the Property Rights Alliance. The IPRI rank different countries according to the level of protection of property rights.
The second index is the Environmental Performance Index(EPI), which “ranks how well countries perform on high-priority environmental issues in two broad policy areas: protection of human health from environmental harm and protection of ecosystems.” EPI “is a joint project between the Yale…
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Utopia, you are standing in it! 
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