Kurt Bouwhuis, Mackinac Center Intern
Many economic problems arise because of a conflict over a resource that is not privatized. For example, overfishing in the ocean, pollution, endangered species, etc… The solution to these problems may seem counter intuitive, but make sense after some thought is applied to them. The video above is a short clip from John Stossel explaining how privatizing endangered species creates the correct incentives to grow their scarce populations.
If you have 57 minutes, this episode of econ talk with Karol Boudreaux and Russ Roberts gives you in depth analysis if why this is true. I highly recommend it.