WHAT is a hero? In literary epics such as “Gilgamesh,” the “Illiad,” or “Beowulf,” heroes are those who defy pain and death to live out a personal code of unqualified honor. In economists’ parlance, heroes risk significant personal costs to help others. Heroism continues today, though it is, as always, in short supply. The familiar […]

HOW HAS Forbes magazine, the self-described capitalist tool, become a green advocate? The influential people at Forbes see markets as the most ethical and efficient means to coordinate much of society. In contrast, political management implies economic inefficiencies and ecological destruction. These are logical consequences of political incentives. A recent Forbes feature by Ellie Winninghoff […]

IN addition to their disappointment with the elections, major environmental groups are learning the pain of limits to growth. From 1990 to 1993, membership fell 33 percent for Greenpeace and 35 percent for the Wilderness Society. The Sierra Club has lost 130,000 members and has accumulated deficits of nearly $3 million. Although groups such as […]

“THE Tragedy of the Commons” appeared in Science magazine in 1968. Though written by an ecologist, Garret Hardin, the article is a classic of political economy. Understanding the logic of this article should be a requirement of running for political office. It explains how and why we should expect waste when biological resources such as […]