Jonathan Adler on common-pool resources

Knowledge Problem

Lynne Kiesling

Case Western law professor Jonathan Adler (someone to whom I link frequently here) is guest blogging for Megan McArdle at the Atlantic right now, and he’s sharing some valuable insights from his research in environmental and administrative law. His first post lays a foundation by summarizing and analyzing Garrett Hardin’s seminal “tragedy of the commons” work and the important relationship between property rights and the ability and incentive to overuse a common-pool resource. One thing that Jonathan’s analysis incorporates into Hardin’s is a recognition of the public choice/political economy dynamics that affect the incentives and ultimate outcomes in resource policy:

One thing that Hardin overlooked is that the political process often replicates the same economic dynamic that encourages the tragedy of the commons — a dynamic fostered by the ability to capture concentrated benefits while dispersing the costs. Like the herder who has an incentive to put…

View original post 404 more words

Advertisements
This entry was posted in economics on by .

About Jim Rose

Utopia - you are standing in it promotes a classical liberal view of the world and champion the mass flourishing of humanity through capitalism and the rule of law. The origin of the blog is explained in the first blog post at https://utopiayouarestandinginit.wordpress.com/2014/03/12/why-call-my-blog-utopia-you-are-standing-in-it/

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.