When government intervenes in the marketplace, if often justifies the intervention as an effort to correct a "market failure" - an inability of the market to achieve potential gains from trade. Government attempts to correct market failure through regulation, taxation, and command-and-control...

The justification for any public policies are dissolving as technology advances. New detection and metering technologies are being developed for highways, parking, marine farming, and auto emissions, making property-rights solutions viable. Information becomes more accessible and user-friendly,...