Harold Demsetz

There are lots of people who've written about this.

I would start with Elna Ostrom and her co-authors and their work, right? I would start looking at the literature in environmental economics, which comes from, you know, Ronald Coase and Demsetz.

But each of these are basically arguing for an ownership system where you can have greater convergence between private and social costs, number one.

In places where you can't have greater convergence between private and social costs, can we either use regulation or markets to minimize the externality and price the externality appropriately, right? And this is the last point I want to make today, which is this argument that, you know, markets are the reason or capitalism is the reason that leads to all these commons problems and this terrible environmental problem.