A Little Housekeeping

The Ecolomist will discuss a wide range of economic and environmental topics (and by the environment I mean not just nature, but the human environment as well).

That is why I think it is important that readers understand the mindset behind this blog and the solutions it proposes.

The Ecolomist adheres to these key principles:

Free Markets are the best

In contrast to the logic of many environmentalists, free markets and ecosystems are actually quite similar. Both are competitive, seemingly chaotic systems governed by a set of basic laws, and both enable an amazing level of diversity and innovation, whether it be niches or niche markets. The Ecolomist believes that systems of 'orderly chaos' like free markets inherently work the best.

Distortions in Free Markets, not Free Markets are the problem.

Well, if free markets are so great, why are there so many problems? Why are rainforests being cut down at an alarming rate? Why are cities rapidly sprawling and destroying habitat and farmland?

The Ecolomist believes that these problems are not the fault of free markets, but of distortions in free markets. These distortions are caused by subsidies, over-regulation and uncharged externalities. For instance, agricultural subsidies are one of the main contributors to deforestation of the Amazon.

Bumpers, not Barriers

Wait- you might be thinking "Isn't there a contradiction here? You say overregulation is a problem, yet you also say you need to regulation in free markets."

The Ecolomist believes that the regulation should guide the market instead of controlling it. Regulations should act as bumpers, not barriers. 'Barrier policies' try to control the market. Unfortunately tehy provide markets little flexibility and encourage people to find ways around them. Vehicle use restrictions in Mexico City didn't discourage driving as intended; people bought or used different cars for different days of the week.

'Bumper' policies on the other hand, guide self-interests by discouraging them from veering off course and hurting other interests, such as environmental or long-term interests. An example of a bumper policy would be making polluting industries pay for the damages they impose of society.

Economic and environmental policies should designed carefully with these principles in mind. If not, there can be severe unintended consequences.

What is the Ecolomist?

Hi, my name is Lee Haber and I'm a McGill university student. I started this blog because I found myself thinking and discussing more and more about ways to solve today's most challenging problems, specifically ones that had to do with the economy and the environment. "The Ecolomist" (Ecology+Economist) is my way of sharing and discussing ideas about how economic principles can (and should) be applied to further both humanity and nature.