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If Hayek and Coase Were Environmentalists: Linking Economics and Ecology

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  • Terry L. Anderson

    (Hoover Institution)

Abstract

This essay argues that the focus of ecology and economics on equilibria and externalities misses the dynamic connection between humans and nature and that there is a better alternative for linking ecology with economics, one that builds on the teachings of Nobel laureates Friedrich Hayek and Ronald Coase.

Suggested Citation

  • Terry L. Anderson, 2015. "If Hayek and Coase Were Environmentalists: Linking Economics and Ecology," Economics Working Papers 15102, Hoover Institution, Stanford University.
    • Handle: RePEc:hoo:wpaper:15102
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    References listed on IDEAS

    as
    1. Alchian, Armen A. & Demsetz, Harold, 2005. "Production, information costs and economic organization," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 45(3), July.
    2. Cheung, Steven N S, 1973. "The Fable of the Bees: An Economic Investigation," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 11-33, April.
    3. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    4. Anderson, Terry L & Hill, Peter J, 1975. "The Evolution of Property Rights: A Study of the American West," Journal of Law and Economics, University of Chicago Press, vol. 18(1), pages 163-179, April.
    5. Cheung, Steven N S, 1983. "The Contractual Nature of the Firm," Journal of Law and Economics, University of Chicago Press, vol. 26(1), pages 1-21, April.
    6. Anderson,Terry L. & Libecap,Gary D., 2014. "Environmental Markets," Cambridge Books, Cambridge University Press, number 9780521279659.
    7. Gary D. Libecap & Dean Lueck, 2011. "The Demarcation of Land and the Role of Coordinating Property Institutions," Journal of Political Economy, University of Chicago Press, vol. 119(3), pages 426-467.
    8. Anderson, Terry L., 2004. "Donning Coase‐coloured glasses: a property rights view of natural resource economics," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(3), pages 1-18.
    9. Anderson, Terry L & Johnson, Ronald N, 1986. "The Problem of Instream Flows," Economic Inquiry, Western Economic Association International, vol. 24(4), pages 535-554, October.
    10. Lueck, Dean, 1989. "The Economic Nature of Wildlife Law," The Journal of Legal Studies, University of Chicago Press, vol. 18(2), pages 291-324, June.
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    13. Muth, Mary K & Rucker, Randal R & Thurman, Walter N & Chuang, Ching-Ta, 2003. "The Fable of the Bees Revisited: Causes and Consequences of the U.S. Honey Program," Journal of Law and Economics, University of Chicago Press, vol. 46(2), pages 479-516, October.
    14. Anderson,Terry L. & Libecap,Gary D., 2014. "Environmental Markets," Cambridge Books, Cambridge University Press, number 9781107010222.
    15. Cooter, Robert D & Rubinfeld, Daniel L, 1989. "Economic Analysis of Legal Disputes and Their Resolution," Journal of Economic Literature, American Economic Association, vol. 27(3), pages 1067-1097, September.
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    Cited by:

    1. Giulio Giacomo Cantone, 2024. "How to measure interdisciplinary research? A systemic design for the model of measurement," Scientometrics, Springer;Akadémiai Kiadó, vol. 129(8), pages 4937-4982, August.

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