Question Earthority!

“Pop quiz: What’s the difference between white rhinos, giant pandas, and spotted owls on the one hand, versus dairy cows, thoroughbred horses, and talking parrots on the other? Answer #1: All of the former are endangered species, while all of the latter are in abundant supply. Answer #2: It is illegal to trade in the former, while the latter are bought and sold as commodities. This is no coincidence. When owners have well-defined property rights in a reproducible resource, they have every incentive to maintain it. The government doesn’t need to pass laws to protect our supply of cows. Even when beef prices rise, ranchers aren’t so shortsighted that they slaughter the last pair of the animals, just as rising agriculture prices don’t lead farmers to eat all of the seedcorn.” (04/27/07)