Publisher's Synopsis
Excerpt from Evaluation of the Effectiveness of Market Responses to Timber Scarcity Problems
Can privately owned forest lands provide the socially desirable level of forest resources in a free market economy? In an atomistic free-market system, forest landowners should provide the appropriate products needed by society by responding to price signals the market generates. As Adam Smith (1776) wrote, individuals should help better society ac cording to the principle of the invisible hand.
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