This collection of new and classic essays by a group of distinguished economists and wildlife experts challenges the prevailing idea that wildlife and markets are inimical to one another, arguing that markets can play an important role in preserving animal species and their habitat. In fact, the editors argue, the late nineteenth-century slaughter of wild game occurred because common ownership gave no incentive for hunters to limit their take or for owners of habitat to invest in wildlife. Using case studies from North America and southern Africa, the essays discuss how 'enviro-capitalism' has been successfully implemented to encourage elephant and rhino preservation and look at the politics of the international ivory ban. They examine the historical role of incentive wildlife management and the problems with political wildlife management that do not take into account the ownership of habitat.
About the Author
Terry L. Anderson is Professor of Economics at Montana State University and Executive Director of the Political Economy Research Center. Peter J. Hill is Professor of Economics at Wheaton College. Among their many publications is The Political Economy of the American West co-edited for Rowman & Littlefield (1994).
Table of Contents
Chapter 1 Introduction Chapter 2 The Economic Organization of Wildlife Institutions Chapter 3 In the Interests of Wildlife: Overcoming the Tradition of Public Rights Chapter 4 The Economics of Fatal Mechanism for Preserving Endangered Predators Chapter 5 Strategic Pricing in the Fur Trade: The Hudson's Bay Company/ 1700-1763 Chapter 6 The Economics of Elk Management Chapter 7 A New Paradigm in Wildlife Conservation: Using Markets to Produce Big Game Hunting Chapter 8 The Capitalist Tool: Wildlife Management in Colorado's Sangre de Cristo Mountains Chapter 9 Who Owns the Elephants? The Political Economy of Saving the African Elephant Chapter 10 Property Rights Contracting and the Commercialization of Biodiversity