Is Amazon River a Market Failure?
A few weeks ago, I listened to a mildly confused episode of Freakonomics – the podcast run by journalist Stephen Dubner and Chicago economist Steven Levitt following their successful books in 2005 and 2009. The episode, hosted by Levitt, is humbly titled “The Simple Economics of Saving the Amazon Rain Forest,” and tries to make a common-sense economic case for protecting the forest from logging and burning.
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