This paper critically considers the neoclassical social-cost approach to problems of pollution. This traditional approach, when subjected to close scrutiny, is found to be seriously wanting in applicability and consistency. A less ambitious alternative based on notions of strict liability is...

At the outset I think it is important to recognize a fundamental con- ceptual distinction. That distinction is between wildlife as an input into a production process and wildlife as an output valued by hu- mans. The nature of economic goods is such that raw inputs are sel- dom valued for...

This paper critically considers the neoclassical social-cost approach to problems of pollution. This traditional approach, when subjected to close scrutiny, is found to be seriously wanting in applicability and consistency. A less ambitious alternative based on notions of strict liability is...

The end ofWorld War II marked the birth of the modern chemical industry. From that time synthetic rubbers, fibers, and complex organohalogens have been produced in large commercial quan- tities, such that each member of modern society is exposed to chemicals of exotic physiocheniical activity....

Law is a set of commands; the principles of tort or criminal law, which we shall be dealing with, are negative commands or prohibi- tions, on the order of “thou shalt not†do actions, X, Y, or Z.1 In short, certain actions are considered wrong to such a degree that it is considered...

In 1972 Congress established the Federal Water Pollution Control Act in which the Environmental Protection Agency was given responsibility to “restore and maintain the chemical, physical, and biological integrity of the nation’s waters.’’ Two national goals of...

T0 the practical mind, particularly one trained in economics, it might sound a trifle paradoxical to suggest that the truly important issues in a public policy debate have nothing to do with the relative efficacy of the policy options. Paradoxical or not, this is very often the case. And there...

The end ofWorld War II marked the birth of the modern chemical industry. From that time synthetic rubbers, fibers, and complex organohalogens have been produced in large commercial quan- tities, such that each member of modern society is exposed to chemicals of exotic physiocheniical activity....

T0 the practical mind, particularly one trained in economics, it might sound a trifle paradoxical to suggest that the truly important issues in a public policy debate have nothing to do with the relative efficacy of the policy options. Paradoxical or not, this is very often the case. And there...

It is commonly assumed that private property rights are incompati- ble with the preservation of such environmental and recreational amenities as our national parks and that governmental ownership is therefore required. This paper takes a different approach and ar- gues that private alternatives...