Tim Worstall reports on new research on “Cash for Clunkers” – a true clunker of a policy. (HT Jon Murphy)
Also from Terry Anderson is this book, co-authored with Gary Libecap, on how property rights and markets are better for the environment than are government diktats. (I’ve not yet read this book, but I just ordered it and will read it ASAP.) Here’s the blurb:
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.
Environmental Markets is the inaugural book in Cambridge Studies in Economics, Choice, and Society, a new interdisciplinary series of theoretical and empirical research focusing on individual choice, institutions, and social outcomes, edited by Peter J. Boettke and Timur Kuran.