What is the difference between Lions, Elephants, and Tigers from Chickens, Pigs, and Dogs? The former 3 cases you aren't allowed to own and they are going extinct, the latter 3 cases you are allowed to own and have a thriving population. In class, I gave several examples of how private property rights can save endangered animals (recall Lobster Fishieries in New England vs. Port Lincoln, Australia; the Black Rhino in Africa which can also be found on page 39 in your textbook). The Wall Street Journal reports a new case with Bison, where decades of conservation regulations barely kept the species from going extinct, recently assigned private property rights to ranchers has caused the Bison population to grow dramatically over just the last few years.
My thanks to Mark Gillis for the link.
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