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Into the wilderness within

Published online by Cambridge University Press:  30 March 2001

JASON F. SHOGREN
Affiliation:
Stroock Distinguished Professor of Natural Resource Conservation and Management, Department of Economics and Finance, University of Wyoming, Laramie, WY 82071,USA. Email jramses@uwyo.edu.

Abstract

Levin et al. deliver a sweeping lecture on the state of nature and society. They point out that economic and ecological systems are linked, this linkage is complex, and that in the litany of environmental disasters that awaits us ‘none can be treated by traditional markets, or regulatory policies.’ Markets fail because they do not aggregate information accurately; corrective policies fail too because lobbying efforts serve to polarize rather than galvanize public debate. Policymakers, social planners, and researchers are asked to rethink their typical conduct, and instead focus on the construction of flexible and adaptive institutions that can accommodate the uncertain future in a way that maintains human welfare. Trust and intellectual guidance are the ties that bind a better world to these undefined, but resilient new institutions.

Type
Policy Forum
Copyright
© 1998 Cambridge University Press

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