What does the average economist know about environmental science? Probably no more than any other reasonably educated person. Yet economists have three talents that are sorely missing from most discussions of environmental policy – particularly policies related to climate change. They understand (1) the scientific method, (2) cost-benefit analysis and (3) how costs and benefits affecting different generations can be evaluated over time.
Barry Asmus, who died March 30, 2020, studied at Montana State University, where he was mentored by economists at PERC, the Property and Environment Research Center. He picked up his appreciation of the free market from them (Richard Stroup was his thesis adviser). While Barry didn’t enter the environmental field, he became an advocate for the free market.
The Liberty, Ecology and Prosperity blog is about appreciating and protecting the environment, using the tools of economics. The blog manager is Jane Shaw Stroup, a former senior fellow of the Property and Environment Research Center (PERC). John Baden, father of the New Resource Economics, is the lead off blogger.
Using Private Property, Economic Incentives, and Markets to Solve Environmental Problems. Please do take the time to read through the PDF document below for more details.