The Economics of The Lorax
I don't really plan on seeing The Lorax. I knew from the preview that it had an environmentalist message. Unfortunately, it's message has a giant hole in it. The question that doesn't seem to be answered, is whether or not the Once-ler owns the forest. Incentives depend on property rights, and how people handle the resources before them depend a great deal on their ownership. Steve Horwitz explains.