ABSTRACT: In March 2014, I presented a paper on Austrian Environmental Economics in Auburn, Alabama, as the F.A. Hayek Memorial Lecture at the Austrian Economics Research Conference, sponsored by the Ludwig von Mises Institute, which was subsequently published in the Quarterly Journal of Austrian Economics (Dolan 2014b), along with comments by Art Carden (2014) and Walter Block (2014). This short paper replies by emphasizing the importance of an institutional framework for environmental mass torts, without which a strict application of libertarian ethics leads to corner solutions in which there is a coordination failure.
KEYWORDS: Austrian school, economics, libertarianism, environmentalism, tradable emissions permitsJEL CLASSIFICATION: Q0, A11, A12, B25
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