Terry L. Anderson

Gary D. Libecap

Environmental Markets explains the prospects of using markets to improve environmental quality and resource conservation. No other book focuses on a property rights approach using environmental markets to solve environmental problems. This book compares standard approaches to these problems using governmental management, regulation, taxation, and subsidization with a market-based property rights approach. This approach is applied to land, water, wildlife, fisheries, and air and is compared to governmental solutions. The book concludes by discussing tougher environmental problems such as ocean fisheries and the global atmosphere, emphasizing that neither governmental nor market solutions are a panacea.

A Property Rights Approach

Environmental Markets

Pamela Snyder

Rain and snow may be falling today, but throughout the world people continually fear water shortages. Is there reason for such apprehension? In Water Markets: Priming the Invisible Pump, Terry L. Anderson and Pamela Snyder argue that the answer is no -- if we return control of water from government to markets. The authors document that humans are using only between 38 and 64 percent of the earth's readily available water. Nevertheless, in several poor countries of Africa and the Middle East, available water is often contaminated, producing millions of deaths each year. Anderson and Snyder argue that government control of water supplies has led to mismanagement and misallocation of water and that markets are the solution.

Priming the Invisible Pump

Water Markets

Most American Indian reservations are islands of poverty in a sea of wealth, but they do not have to remain that way. To extract themselves from poverty, Native Americans will have to build on their rich cultural history including familiarity with markets and integrate themselves into modern economies by creating institutions that reward productivity and entrepreneurship and that establish tribal governments that are capable of providing a stable rule of law. The chapters in this volume document the involvement of indigenous people in market economies long before European contact, provide evidence on how the wealth of Indian Nations has been held hostage to bureaucratic red tape, and explains how their wealth can be unlocked through self-determination and sovereignty.

Unlocking the Wealth of Indian Nations

Fred S. McChesney

In the end, the book provides a fresh, comprehensive overview of an intriguing subject, accessible to anyone with a minimal background in economics. (An introductory chapter introduces the handful of assumptions embedded in the text's economics and law).

Cooperation, Conflict, and Law

Property Rights

Laura E. Huggins

In a powerful argument for free market environmentalism, Terry Anderson and Laura Huggins break down liberal and conservative stereotypes of what it means to be an environmentalist. They show that, by forming local coalitions around market principles, stereotypes are replaced by pragmatic solutions that improve environmental quality without necessarily increasing red tape.

Terry L. Anderson

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