KillerApps Micro: Free Market Solutions
Auction of immigrant visas could ensure that scarce visas go to only those who are willing to pay the most to get them and that immigrants do not displace native-born workers simply because of their willingness to accept lower pay.
Free or subsidized parking has suffocated the development of mass transit and increased traffic congestion and air pollution.
Road tolls that vary directly with congestion have reduced peak-hour traffic volume in Singapore and Stockholm by forcing commuters to internalize congestion cost.
Paying lower-cost avoiders to reduce pollution could reduce the total cost of pollution control.
Peak-load pricing can lower electric bills and increase business profitability by inducing household consumers to shift their consumption from higher-rate peak period to lower-rate slack period.
Dutch property owners hire free antisquatters to prevent squatters from occuping vacant buildings.
Charging motorists for contributing to rush-hour congestion may be economists' dream of internalizing negative externality on toll roads but politicians' nightmare when competing highways are free.
Taxing nonrenewable resources instead of labor income would create more jobs and encourage conservation while reducing pollution.
The right to transfer private property has led to windfall gain to right owners and better allocation of scarce resources, such as water and power.
By assigning fishing quotas to individual fisherman, Iceland has solved the problem of over-exploitation typically associated with open access to common-pool resources.
Compensated physician-assisted death could reduce end-of-life health care expenditures and reduce pain and suffering.
Ambiguous property rights and high transaction costs may scuttle beneficial exchanges.
Pollution credits convert the atmosphere from a commons into private property. They can reduce pollution if the pollution cap is lower than the unrestricted total and lower the costs of reducing pollution if credits can be sold from low-cost avoiders and high-cost avoiders.
People will conserve wildlife if they have a financial stake in it.
Total 14 records
Submit a Killer Application?