The past century and a quarter has seen frequent improvements in track and field records. We attempt to estimate what proportion of the speed of record breaking is due to globalization (competitors from more countries) and what proportion is due to technological progress (better equipment and...

The justification for any public policies are dissolving as technology advances. New detection and metering technologies are being developed for highways, parking, marine farming, and auto emissions, making property-rights solutions viable. Information becomes more accessible and user-friendly,...

When government intervenes in the marketplace, if often justifies the intervention as an effort to correct a "market failure" - an inability of the market to achieve potential gains from trade. Government attempts to correct market failure through regulation, taxation, and command-and-control...

Frontmatter -- Contents -- Acknowledgments -- Introduction. The Half-Life of Policy Rationales: How New Technology Affects Old Policy Issues -- 1. Technology,Marine Conservation, and Fisheries Management -- 2. The Lighthouse as a Private-Sector Collective Good -- 3. Motorway Financing and...