The Economics of the Arctic National Wildlife Refuge
Should the Arctic National Wildlife Refuge (ANWR) be used to drill for oil, or should this type of economic development be forbidden, in favor of protecting environmental amenities? In economics, this is a classical question of the allocation of resources, and we propose to answer it in a similar ma...
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Language: | English |
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Online Access: | http://dx.doi.org/10.1260/095830507780157221 http://journals.sagepub.com/doi/pdf/10.1260/095830507780157221 |
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crsagepubl:10.1260/095830507780157221 2023-05-15T14:49:42+02:00 The Economics of the Arctic National Wildlife Refuge Arctic National Wildlife Refuge: A Casualty of Leasing Law or Candidate for Privatization? Schaeffer, Emily Block, Walter 2007 http://dx.doi.org/10.1260/095830507780157221 http://journals.sagepub.com/doi/pdf/10.1260/095830507780157221 en eng SAGE Publications http://journals.sagepub.com/page/policies/text-and-data-mining-license Energy & Environment volume 18, issue 1, page 75-85 ISSN 0958-305X 2048-4070 Energy (miscellaneous) Energy Engineering and Power Technology Renewable Energy, Sustainability and the Environment Environmental Engineering journal-article 2007 crsagepubl https://doi.org/10.1260/095830507780157221 2022-04-14T04:36:27Z Should the Arctic National Wildlife Refuge (ANWR) be used to drill for oil, or should this type of economic development be forbidden, in favor of protecting environmental amenities? In economics, this is a classical question of the allocation of resources, and we propose to answer it in a similar manner in this case, even though such reasoning is not typical of debates in this field. We answer the ANWR challenge with arguments favoring solutions emerging from private property arrangements, and provide an illustrative example of markets at work. We take neither side, but urge that the free enterprise system be allowed to address the issue. It is our claim that this is a superior system, as entrepreneurs who make mistakes suffer economic penalties, and this feedback mechanism is either entirely missing in political and bureaucratic institutions, or at the very least greatly attenuated there. Article in Journal/Newspaper Arctic SAGE Publications (via Crossref) Arctic Energy & Environment 18 1 75 85 |
institution |
Open Polar |
collection |
SAGE Publications (via Crossref) |
op_collection_id |
crsagepubl |
language |
English |
topic |
Energy (miscellaneous) Energy Engineering and Power Technology Renewable Energy, Sustainability and the Environment Environmental Engineering |
spellingShingle |
Energy (miscellaneous) Energy Engineering and Power Technology Renewable Energy, Sustainability and the Environment Environmental Engineering Schaeffer, Emily Block, Walter The Economics of the Arctic National Wildlife Refuge |
topic_facet |
Energy (miscellaneous) Energy Engineering and Power Technology Renewable Energy, Sustainability and the Environment Environmental Engineering |
description |
Should the Arctic National Wildlife Refuge (ANWR) be used to drill for oil, or should this type of economic development be forbidden, in favor of protecting environmental amenities? In economics, this is a classical question of the allocation of resources, and we propose to answer it in a similar manner in this case, even though such reasoning is not typical of debates in this field. We answer the ANWR challenge with arguments favoring solutions emerging from private property arrangements, and provide an illustrative example of markets at work. We take neither side, but urge that the free enterprise system be allowed to address the issue. It is our claim that this is a superior system, as entrepreneurs who make mistakes suffer economic penalties, and this feedback mechanism is either entirely missing in political and bureaucratic institutions, or at the very least greatly attenuated there. |
format |
Article in Journal/Newspaper |
author |
Schaeffer, Emily Block, Walter |
author_facet |
Schaeffer, Emily Block, Walter |
author_sort |
Schaeffer, Emily |
title |
The Economics of the Arctic National Wildlife Refuge |
title_short |
The Economics of the Arctic National Wildlife Refuge |
title_full |
The Economics of the Arctic National Wildlife Refuge |
title_fullStr |
The Economics of the Arctic National Wildlife Refuge |
title_full_unstemmed |
The Economics of the Arctic National Wildlife Refuge |
title_sort |
economics of the arctic national wildlife refuge |
publisher |
SAGE Publications |
publishDate |
2007 |
url |
http://dx.doi.org/10.1260/095830507780157221 http://journals.sagepub.com/doi/pdf/10.1260/095830507780157221 |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic |
genre_facet |
Arctic |
op_source |
Energy & Environment volume 18, issue 1, page 75-85 ISSN 0958-305X 2048-4070 |
op_rights |
http://journals.sagepub.com/page/policies/text-and-data-mining-license |
op_doi |
https://doi.org/10.1260/095830507780157221 |
container_title |
Energy & Environment |
container_volume |
18 |
container_issue |
1 |
container_start_page |
75 |
op_container_end_page |
85 |
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1766320778924523520 |