Coase

Coase’s Influence on Economics, and Adam Smith’s Influence on Coase

Economics, Uncategorized / By

https://www.facebook.com/CPCMP/videos/vb.181913810273/10160362413965274/?type=3&theater Understanding the economy as a dynamic, complex system relies on the foundational work of several economists, including Adam Smith (of course) and Ronald Coase. As Coase observed in his 1991 Nobel Prize address, What I have done is to show the importance for the working of the economic system of what may be termed …

Coase’s Influence on Economics, and Adam Smith’s Influence on Coase Read More »

Are Property Rights Now More Clearly Defined for Organic Farmers in Minnesota?

4 Comments / Economics, Environmental policy, Law / By

Michael Giberson The United States Supreme Court chose to let stand a Minnesota Supreme Court decision concerning the rights of organic farmers exposed to pesticide drift from neighboring conventional farms. In the case Johnson v. Paynesville Farmers Union Cooperative Oil Co., the organic-farming Johnsons had sued conventional-farming Paynesville for damages after pesticide drift from Paynesville’s farm …

Are Property Rights Now More Clearly Defined for Organic Farmers in Minnesota? Read More »

Minnesota Supreme Court Rules Pesticide Drift is Not a Trespass, but Might Be a Nuisance

3 Comments / Economics, Environmental policy, Law, Regulation / By

Michael Giberson The Minnesota Supreme Court ruled today that pesticide drifting across property lines onto an organic farmer’s crop does not constitute a trespass under state law. The court dismissed the trespass claim as well as accompanying claims asserting nuisance and negligence under laws that govern organic farming. The organic farming laws regulate what a …

Minnesota Supreme Court Rules Pesticide Drift is Not a Trespass, but Might Be a Nuisance Read More »

Praise for a New York Times Article on Natural Gas Fracking (or, How Property Rights Help Mitigate Potential Environmental Harms)

Energy markets, Environmental policy, Law, Regulation / By

Michael Giberson I’m writing in praise of a New York Times article on natural gas fracking. Yes, really! Even more surprising, I’m writing in praise of a New York Times on fracking written by Ian Urbina. Yes, really! What is this marvel, you ask? I answer, “Rush to Drill for Natural Gas Creates Conflicts With Mortgages.” What is so …

Praise for a New York Times Article on Natural Gas Fracking (or, How Property Rights Help Mitigate Potential Environmental Harms) Read More »

A Coasian Look at Pesticide and Genetic Drift

2 Comments / Economics, Environmental policy, Law, Regulation / By

Michael Giberson A few weeks back Lynne drew attention to an interesting property dispute between neighboring farmers in Minnesota, currently the subject of legal action (see news summary here, related court decision here). In brief, the issue is pesticide drift from conventionally farmed crops onto a neighboring organic farm, and whether the organic farm can …

A Coasian Look at Pesticide and Genetic Drift Read More »

Demsetz Discusses Coase’s Mistake on Pigou and Social Costs

5 Comments / Economics, Environmental policy, Law / By

Michael Giberson Last summer, Harold Demsetz spoke at the Property and Environment Research Center on Ronald Coase’s big mistake in “The Problem of Social Cost.” PERC has just posted the video. The article he is presenting is, “Fallacies in the Economic Doctrine of Externalities,” but I bet in the written article he doesn’t say, “what …

Demsetz Discusses Coase’s Mistake on Pigou and Social Costs Read More »

Copyright © 2022 Knowledge Problem Archive