Author(s): Peter S. Menell
Year: 1992
Abstract:
This
article exposes the utopian parallels between scientific management and
free market environmentalism as institutional paradigms for governing
environmental resources. It shows that just as traditional economic
analysis of environmental problems often ignores the imperfections of
public institutions, the free market environmentalist perspective
reflects a comparably naive view of institutions by focusing narrowly
and simplistically upon the delineation and enforcement of property
rights. A responsible analysis of institutional choice requires
consideration of the broad array of actual and potential public
institutions and the many checks and balances available for improving
and constraining regulators’ behavior.
Keywords:
Link: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2222384