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Free-market Environmentalist
Free-market environmentalism argues that the free market, property rights, and tort law provide the best means of preserving the environment, internalizing pollution costs, and conserving resources. Free-market environmentalists therefore argue that the best way to protect the environment is to clarify and protect property rights. This allows parties to negotiate improvements in environmental quality. It also allows them to use torts to stop environmental harm. If affected parties can compel polluters to compensate them they will reduce or eliminate the externality. Market proponents advocate changes to the legal system that empower affected parties to obtain such compensation. They further claim that governments have limited affected parties' ability to do so by complicating the tort system to benefit producers over others. Tenets While environmental problems may be viewed as market failures, free market environmentalists argue that environmental problems arise because: # ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Market
In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations. In an idealized free market economy, prices for goods and services are set solely by the bids and offers of the participants. Scholars contrast the concept of a free market with the concept of a coordinated market in fields of study such as political economy, new institutional economics, economic sociology and political science. All of these fields emphasize the importance in currently existing market systems of rule-making institutions external to the simple forces of supply and demand which create space for those ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economists
An economist is a professional and practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic analysis, microeconomic analysis or financial statement analysis Financial statement analysis (or just financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions to earn income in future. These statements include the income statement, balanc ..., involving analytical methods and tools such as econometrics, statistics, Computational economics, economics computational models, financial economics, mathematical finance and mathematical economics. Professions Economists work in many fields including academia, government and in the private ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Elasticity Of Supply
The price elasticity of supply (PES or Es) is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price. The elasticity is represented in numerical form, and is defined as the percentage change in the quantity supplied divided by the percentage change in price. When the elasticity is less than one, the supply of the good can be described as ''inelastic''; when it is greater than one, the supply can be described as ''elastic''.Png, Ivan (1999). pp. 129–32. An elasticity of zero indicates that quantity supplied does not respond to a price change: the good is "fixed" in supply. Such goods often have no labor component or are not produced, limiting the short run prospects of expansion. If the elasticity is exactly one, the good is said to be ''unit-elastic''. The quantity of goods supplied can, in the short term, be different from the amount produced, as manufacturers will have stocks which they ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for Profit (economics), profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, Property rights (economics), property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in Capital market, capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets. Economists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include ''Laissez-faire capitalism, laissez-faire'' or free-market capitalism, anarcho-capitalism, state capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Registration
Land registration is any of various systems by which matters concerning ownership, possession, or other rights in land are formally recorded (usually with a government agency or department) to provide evidence of title, facilitate transactions, and prevent unlawful disposal. The information recorded and the protection provided by land registration varies widely by jurisdiction. In common law countries, particularly in jurisdictions in the Commonwealth of Nations, when replacing the deeds registration system, title registrations are broadly classified into two basic types: the Torrens title system and the English system, a modified version of the Torrens system.Lyall, Andrew. ''Land Law in Ireland''. ; Ch. 24 Cadastral systems and land registration are both types of land recording and complement each other.Jo Henssen, BASIC PRINCIPLES OF THE MAIN CADASTRAL SYSTEMS IN THE WORLD, Implementations Americas Canada Falkland Islands The Falkland Islands registry holds copies of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land (economics)
In economics, land comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations, mineral deposits, forests, fish stocks, atmospheric quality, geostationary orbits, and portions of the electromagnetic spectrum. Supply of these resources is fixed. Factor of production Land is considered one of the three factors of production (also sometimes called the three producer goods) along with capital, and labor. Natural resources are fundamental to the production of all goods, including capital goods. While the particular role of land in the economy was extensively debated in classical economics it played a minor role in the neoclassical economics dominant in the 20th century. Income derived from ownership or control of natural resources is referred to as rent. Ownership Because no man created the land, it does not have a definite original proprietor, owner or user. As a consequence, conflicting claims on geographic l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minarchism
A night-watchman state, or minarchy, whose proponents are known as minarchists, is a model of a state that is limited and minimal, whose functions depend on libertarian theory. Right-libertarians support it only as an enforcer of the non-aggression principle by providing citizens with the military, the police, and courts, thereby protecting them from aggression, theft, breach of contract, fraud, and enforcing property laws.Gregory, Anthony (May 10, 2004)"The Minarchist's Dilemma" ''Strike the Root: A Journal of Liberty''. . Retrieved February 1, 2020.Peikoff, Leonard (March 7, 2011)"What role should certain specific governments play in Objectivist government?" Peikoff.com. Retrieved January 2, 2020. In the United States, this form of government is mainly associated with libertarian and Objectivist political philosophy. In other countries, minarchism is also advocated by some non-anarchist libertarian socialists and other left-libertarians.Hain, Peter (July/August 2000)"Rediscove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citizen's Dividend
Citizen's dividend is a proposed policy based upon the Georgist principle that the natural world is the common property of all people. It is proposed that all citizens receive regular payments (dividends) from revenue raised by leasing or taxing the monopoly of valuable land and other natural resources. History A concept akin to a citizen's dividend was known in Classical Athens. In 483 BC, a massive new seam of silver was found in the Athenian silver mines at Laurium.PlutarchThemistocles 4/ref> The dispersal of this provoked great debate. The statesman Aristides proposed the profit from this should be distributed among the Athenian citizens.Holland, pp. 219–222 However he was opposed by Themistocles, who proposed the money be spent building warships for the Athenian navy. In the end, Themistocles' policy was the one adopted. In the United Kingdom and United States, the idea can be traced back to Thomas Paine's essay, '' Agrarian Justice'', which is also considered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Basic Income
Universal basic income (UBI) is a social welfare proposal in which all citizens of a given population regularly receive an unconditional transfer payment, that is, without a means test or need to work. It would be received independently of any other income. If the level is sufficient to meet a person's basic needs (i.e., at or above the poverty line), it is sometimes called a full basic income; if it is less than that amount, it may be called a partial basic income. No country has yet introduced either, although there have been numerous pilot projects and the idea is discussed in many countries. Some have labelled UBI as utopian due to its historical origin. There are several welfare arrangements which can be considered similar to basic income, although they are not unconditional. Many countries have a system of child benefit, which is essentially a basic income for guardians of children. Pension may be a basic income for retired persons. There are also quasi-basic income p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Rent
In economics, economic rent is any payment (in the context of a market transaction) to the owner of a factor of production in excess of the cost needed to bring that factor into production. In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location (land) and for assets formed by creating official privilege over natural opportunities (e.g., patents). In the moral economy of neoclassical economics, economic rent includes income gained by labor or state beneficiaries of other "contrived" (assuming the market is natural, and does not come about by state and social contrivance) exclusivity, such as labor guilds and unofficial corruption. Overview In the moral economy of the economics tradition broadly, economic rent is opposed to producer surplus, or normal profit, both of which are theorized to involve productive human action. Economic rent is also independent of opportunity cost, unlike ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Value Tax
A land value tax (LVT) is a levy on the value of land (economics), land without regard to buildings, personal property and other land improvement, improvements. It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating. Land value taxes are generally favored by economists as they do not cause economic efficiency, economic inefficiency, and reduce economic inequality, inequality. A land value tax is a progressive tax, in that the tax burden falls on land owners, because land ownership is correlated with wealth and income. The land value tax has been referred to as "the perfect tax" and the economic efficiency of a land value tax has been accepted since the eighteenth century. Economists since Adam Smith and David Ricardo have advocated this tax because it does not hurt economic activity or discourage or subsidize development. LVT is associated with Henry George, whose ideology became known as Georgism. George ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geolibertarianism
Geolibertarianism is a political and economic ideology that integrates libertarianism with Georgism. It favors a taxation system based (as in Georgism) on income derived from land and natural resources instead of on labor, coupled with a minimalist model of government, as in libertarianism. Geolibertarians recognize the right to private ownership of land, but only if fair recompense is paid to the community for the loss of access to that land. Some geolibertarians broaden out the tax base to include resource depletion, environmental damage, and other ancillaries to land use. A succinct summary of this philosophy can be found in Thomas Paine's 1797 pamphlet '' Agrarian Justice'': "Men did not make the earth. It is the value of the improvements only, and not the earth itself, that is individual property. Every proprietor owes to the community a ground rent for the land which he holds". Overview Geolibertarians maintain that geographical space and raw natural resources—an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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