Ronald Coase's Nobel work outlined gains by reducing transaction costs and promoting property rights and markets to confront externalities. Countering market failure assertions and calls for centralized government intervention, Coase retorted that decentralized market negotiations could be welfare-improving by promoting collaborative, efficient problem solving, and releasing resources to the general economy. Despite this, his approach is not central to any US environmental law implemented ...

A collection of the most advanced and authoritative agricultural-economic research in the face of increasing water scarcity.Agriculture has been critical in the development of the American economy. Except in parts of the western United States, water access has not been a critical constraint on agricultural productivity, but with climate change, this may no longer be the case. This volume highlights new research on the interconnections between American agriculture, ...

The Amazon, the world's largest rain forest, is the last frontier in Brazil. The settlement of large and small farmers, squatters, miners, and loggers in this frontier during the past thirty years has given rise to violent conflicts over land as well as environmental duress. Titles, Conflict, and Land Use examines the institutional development involved in the process of land use and ownership in the Amazon and shows how this phenomenon affects the behavior of the economic actors. ...

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...

In May 1999, over 50 distinguished scholars from all over the world gathered to honor Gordon Tullock, one of the most prolific, original, and versatile scholars of his generation. Tullock is best known for his pioneering work in Public Choice, the study of how self-interested individuals interact with governments. Tullock's research in public choice has contributed to the understanding of the decisions made by elected officials and bureaucrats, as well as knowledge and how individuals and ...

Innovation is a central mechanism in the progression of society and often captures the imagination and enthusiasm of corporate leaders, public policy makers, and so on. However, the cultural, political and social complexities of innovation that extend beyond economic and technological contexts are often overlooked. In this volume, a novel approach to deeply understanding innovation in contexts that range from the socio-cultural to the technological is presented. The fundamental principles ...

In 1700, Latin America and British North America were roughly equal in economic terms. Yet over the next three centuries, the United States gradually pulled away from Latin America, and today the gap between the two is huge. Why did this happen? Was it culture? Geography? Economic policies? Natural resources? Differences in political development? The question has occupied scholars for decades, and the debate remains a hot one. In Falling Behind, Francis Fukuyama gathers together s...

One of the “Best Books of the Year”: Guardian • Financial Times • Times Higher EducationA major collection of essays that questions whether contemporary capitalism will end with a bang or a whimper—from a leading political economist and the author of Buying Time.After years of ill health, capitalism is now in a critical condition. Growth has given way to stagnation; inequality is leading to instability; and confidence in t...

Brazil is the world's sixth-largest economy, and for the first three-quarters of the twentieth century was one of the fastest-growing countries in the world. While the country underwent two decades of unrelenting decline from 1975 to 1994, the economy has rebounded dramatically. How did this nation become an emerging power? Brazil in Transition looks at the factors behind why this particular country has successfully progressed up the economic development ladder. The authors examin...

Until now, the literature on innovation has focused either on radical innovation pushed by technology or incremental innovation pulled by the market. In Design-Driven Innovation: How to Compete by Radically Innovating the Meaning of Products, Roberto Verganti introduces a third strategy, a radical shift in perspective that introduces a bold new way of competing. Design-driven innovations do not come from the market; they create new markets. They don't push new technologies; they push new m...

“Powerful as well as highly engaging—a brilliant book.”—Amartya SenA Times Higher Education Book of the WeekIt may sound crazy to pay people whether or not they’re working or even looking for work. But the idea of providing an unconditional basic income to everyone, rich or poor, active or inactive, has long been advocated by such major thinkers as Thomas Paine, John Stuart Mill, and John Kenneth Galbraith. Now, with the tra...

We need our neighbors and community to stay healthy, produce jobs, raise our children, and care for those on the margin. Institutions and professional services have reached their limit of their ability to help us. The consumer society tells us that we are insufficient and that we must purchase what we need from specialists and systems outside the community. We have become consumers and clients, not citizens and neighbors. John McKnight and Peter Block show that we have the capacity to find...