When economist Harold Demsetz looked into the history of the fur trade in the Labrador Peninsula in 1967, he was not studying environmental protection. He was exploring the origins of property rights. Yet his findings contributed to a major rethinking of environmental issues. Here’s what he found.
Before 1700, Indians hunted beaver in forests around Quebec, using them for food and fur. Because the demand for beaver was limited, says Demsetz, “hunting could be practiced freely.”[1]
But around 1700, Europeans came to the peninsula, eager to purchase beaver skins from the Indians. Continue reading “Going Against the Grain, Environmentally Speaking”