Rapid economic growth along shorelines places property in harm's way because of exposure to storms, and has sparked debate about the government's role in attenuating the associated risks faced by beachfront property owners. This paper analyzes the effects of government shore protection...

When the government institutes a program thought to be useful for society as a whole, such as building a highway or controlling air pollution, those that benefit from such programs are usually quite different from those that bear its costs. Sometimes the ...