Jon Bostwick agrees on another post that "Man is clever but not wise ("homo sapiens" is a misnomer)", but further comments (emphasis added): "True. But humanity is wise. Men create cultures, economies and law. "Man's flaw is that he is over confident of his own intelligence...
Over at Cafe Hayek , Don Boudreaux blogs about fishing and property rights. This got me thinking: What is necessary for rational allocation of fishing rights? Clearly, treating the ocean's fish as totally unownable is problematic, as that sort of thing would naturally lead to overfishing. At first...