"The first seminar I was invited to was on global warming and climate change. I had no idea what FREE was or who John Baden was, but the invitation mentioned some of those who had already agreed to attend, and one of them was a scientist I had got to know well, and to trust...I took his selection as a good sign, joined the seminar, signed on for more, and have never been disappointed."
Entrepreneurs are chefs who provide society with free lunches. They take known resources and arrangements and discover new ways to employ them. By doing so they increase wellbeing. Environmental entrepreneurs serve society and preserve ecology by increasing the efficiency of resource use.
Americans are celebrating the Centennial of the U. S. Park Service. Its creation is one of the most successful experiments of Progressive Era reformers.
Foreword by John Baden
During the post-Civil War period, from 1865 to 1910, America resembled a rapidly developing Third World nation. Life expectancy was just over 40 years and average income was less than one twentieth of today’s. Corrupt big city machines and corporate cronyism marked our political economy.
The U. S. Park Service in the Department of Interior celebrates its centennial this year. It manages over 400 national parks and monument units. The creation of these protected areas is often labeled as "America's best idea".* America's first national park, Yellowstone, was established in 1872. It has become the world's model for park management.**
Economics is not simply about money. Rather, economics helps explain personal decisions and social coordination. It focuses on two things, information and incentives. Here is an economic perspective on the most common New Year's resolution, to become fit and lose weight.
Unfortunately, it is a true, empirical, universal, statistical generalization that organizations are run mainly for the benefit of those who head them. Those who lead them make decisions based on two things, information and incentives. This is true for EPA, Volkswagen, the U. S. Park Service, and Montana State University. Conflicts arise between the ideals of the organization and their leaders responses to the incentives they face.
Americans have excellent reasons to celebrate Thanksgiving. We live in the world's most successful large scale experiment in harmonizing liberty, ecology and prosperity. Our founders understood the power of voluntary cooperation among free men and the constant dangers of threats to liberty and political predation.
I enjoy sharing environmental insights. Here is a one by Professor Don Boudreaux of George Mason University. He gave permission to post his Cafe Hayek (http://cafehayek.com/) as a FREE Insight. Its elegant simplicity surprised me.
Next Wednesday is Veteran's Day. Jim Drummond, President of our region's Stockman Bank found his dad's diary from WWII. Jim wrote a moving commentary to accompany selected entries he shared with colleagues and friends. Jim kindly agreed to let us post his introduction to the diary as a FREE Insight.
