The weather pattern can roil crops and commodities prices.
The National Weather Service’s Climate Prediction Center said the likelihood that El Nino conditions would persist through the Northern Hemisphere winter was about 95 per cent, up from a more than 90 per cent chance in last month’s forecast.
There has been a growing consensus among forecasters for a strong El Nino, the warming of Pacific sea-surface temperatures. The World Meteorological Organization said last week that this year’s phenomenon could be the strongest on record and was likely to peak between October and January.
El Nino conditions would probably contribute to a below-normal Atlantic hurricane season and to above-normal seasons in both the central and Eastern Pacific hurricane basins, the CPC said.
It added that across the contiguous U.S., the effects of El Nino were likely to remain minimal during the early Northern Hemisphere autumn and increase into the late fall and winter.
The CPC said this month that “all models surveyed” predicted that El Nino would last into the Northern Hemisphere spring, up from an 80 per cent chance it estimated last month.
The El Nino phenomenon would mean increased likelihood of rain for parched areas of drought-stricken California later in the fall, although the Pacific Northwest states of Oregon and Washington would probably not get much relief.
— Reporting for Reuters by Luc Cohen.
Murray N. Rothbard was the father of what some call Radical Libertarianism or Anarcho-Capitalism which Hans-Hermann Hoppe described as “Rothbard’s unique contribution to the rediscovery of property and property rights as the common foundation of both economics and political philosophy, and the systematic reconstruction and conceptual integration of modern, marginalist economics and natural-law political philosophy into a unified moral science: libertarianism.”
This book applies the principles of this “unified moral science” to environmental and natural resource management issues.
The book started out life as an assigned reading list for a university level course entitled Environmental and Natural Resource Economics: The Austrian View.
As I began to prepare to teach the course, I quickly saw that there was a plethora of textbooks suitable for universal level courses dealing with environmental and natural resource economics. The only problem was that they were all based in mainstream neo-classical (or Keynesian) theory. I could find no single collection of material comprising a comprehensive treatment of environmental and natural resource economics based on Austrian Economic Theory.
However, I was able to find a large number of essays, monographs, papers delivered at professional meetings and published from a multitude of sources. This book is the result. It is composed of a collection of research reports and essays by reputable scientists, economists, and legal experts as well as private property and free market activists.
The book is organized into seven parts: I. Environmentalism: The New State Religion; II. The New State Religion Debunked; III. Introduction to Environmental and Natural Resource Economics; IV. Interventionism: Law and Regulation; V. Pollution and Recycling; VI. Property Rights: Planning, Zoning and Eminent Domain; and VII. Free Market Conservation. It also includes an elaborate Bibliography, References and Recommended Reading section including an extensive Annotated Bibliography of related and works on the subject.
The intellectual level of the individual works ranges from quite scholarly to informed editorial opinion.