Environmental liability and harmonization in the presence of transboundary effects and hidden assets

Within the context of transboundary disputes, this paper seeks to determine which liability concept, negligence or strict liability, performs better when assets are secure against foreign claims for transboundary damages. Our results indicate that, if assets are hidden from foreign claims, strict liability will not implement the socially optimal outcome, but neither will negligence. However, even though the socially optimal outcome is not always achieved, strict liability weakly dominates negligence. These results suggest that the harmonization of statues that deal with transboundary pollution should be based on strict liability not negligence. JEL classification K32 · Q5 Smith and Eckert both thank SSHRC of Canada for financial assistance. We thank two referees for valuable comments that greatly improved the paper and Matt Smith for his research assistance. All remaining errors are our responsibility.     

Project USA: American competitiveness and what must be done to restore it

The United States today faces a loss of influence as a world power, a reduction in American independence as a policymaker, and a decline in the standard of living on which Americans have come to depend. History teaches that nations weaker and less productive than the United States can rise to become economic powerhouses and rapidly increase their standards of living. History also teaches that nations failing to recognize their fundamental problems will inevitably decline. American politicians must face what is abundantly clear: the United States is losing ground and must act quickly to reverse its course. This White Paper outlines what must be done. Information about the nation's current status must be analyzed and communicated. Incentives to improve the level of competence in government must be provided and maintained. The emphasis of government policy must be changed to reflect broad economic and technological interests as opposed to special interests. Savings must be encouraged and increased. Infrastructure must be improved Tax laws must be modified to help bring these changes about. Economic and technological issues must be elevated to the importance they require. American thinking must reflect the new realities: that the age of leadership through military power is over, that the requirements for success in the world of the 1990s and beyond require a sound and growing economy that is internationally competitive. The US can accomplish these goals only through foundation-shaking, comprehensive, fundamental changealong the lines we propose herein.This paper is the executive summary (with minor editing modifications) of a white paper that is available from Cornell University's Johnson Graduate School of Management.     

SBIR first decade-results,benefits, problems from a Michigan perspective

This paper reports on the economic contributions and impact of the Small Business Innovation Research (SBIR) Program in Michigan during the first decade. The Michigan SBIR experience is examined to learn how researchers and small businesses use the SBIR Program, whether to start or strengthen businesses, how they view SBIR after a decade, and how the program has served Michigan businesses that have successfully carried out Phase I, Phase II, and Phase III SBIR projects. From the beginning of the SBIR Program, MERRA has coordinated annual SBIR conferences for Michigan companies. The MERRA staff has helped small businesses prepare suitable R&D projects and write effective SBIR proposals. Numerous SBIR awards have resulted from MERRA supportive efforts, and the MERRA small business outreach activity has kept MERRA in touch with successful firms to assist them in getting the best results from their SBIR projects and to assess progress. For this study, in-depth evaluations were made of various Michigan firms that won SBIR awards, including both mature small businesses and start-up companies to learn in what ways their SBIR experiences are parallel and in what ways they diverge. The study covers those that have used SBIR funds to diversify and add new areas of business to existing core areas. Other companies examined were created by researchers associated with universities, industry, or research organizations who utilized SBIR awards to assist in starting new businesses. Also considered were Michigan companies at different levels of development that have employed SBIR awards as seed money to perfect innovative new products for marketing.     

State-sponsored violence as a tragedy of the commons: England's privateering wars with France and Spain, 1625–1630

The “tragedy of the commons” is the familiar problem that open access to a common property resource leads to overexploitation and to zero profits. A commons model is applied to an example of state sponsored private violence, the practice of privateering or licensed piracy. It is predicted that the presence of uncertainty about the value of the prey will reduce the amount of exploitation effort, and that industry profits may be positive due to both uncertainty and heterogeneous exploiters. Using data from England's wars with France and Spain between 1625 and 1630, the model suggests that the commons, represented by enemy merchant shipping, was not overexploited and that privateering profits were positive. The dynamic paths of privateering effort, ships seized, and individual firm profits were, however, consistent with the normal expectation that commons exploitation will peak and fall, as competition drives down returns through entry. “England was never richer than when at war with Spain.” Sir Edward Coke      

B. Reviews: general

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A HISTORY OF THE SELJUKS: ?BRAHIM KAFESOGLU'S INTERPRETATION AND THE RESULTING CONTROVERSY. Translated and edited By GARY LEISER. Carbondale and Edwardsville, Southern Illinois University Press, 1988. 208pp. Genealogical charts, maps in end covers. $29.95.

THE HISTORY OF THE JEWS IN THE LATIN KINGDOM OF JERUSALEM. By JOSHUA PRAWER. Oxford, Clarendon Press, 1988. xv, 310pp. 5 maps.

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