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Books > Business & Economics > Economics > Political economy
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The Political Economy of Fracking - Private Property, Polycentricity, and the Shale Revolution (Paperback)
Loot Price: R1,633
Discovery Miles 16 330
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The Political Economy of Fracking - Private Property, Polycentricity, and the Shale Revolution (Paperback)
Series: Economics in the Real World
Expected to ship within 12 - 17 working days
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Over the past two decades, "fracking" has led to a revolution in
shale gas production. For some, shale gas promised economic
opportunities, cheaper energy bills, and an alternative to coal.
For others, shale gas was fool's gold. Critics contend that the
shale boom has occurred in a regulatory Wild West, that the
response has been fractured and ineffective, or that the harmful
environmental and health consequences exceed the benefits from
shale gas production. The Political Economy of Fracking argues that
the criticism of the shale revolution has been misplaced. The
authors use insights from a diversity of perspectives in political
economy to understand why the shale boom occurred, who won in the
race for shale, and who was left behind. The book explains how
private property rights and entrepreneurs led to the shale boom. It
contends that polycentric governance, which encourages a diversity
of regulatory responses, is a virtue because it generates knowledge
about the most appropriate ways to regulate shale development.
Private property rights and political institutions that provide for
local self-governance also helped to ensure that the benefits of
shale gas production exceeded its costs. The authors make the case
for fracking shale gas using evidence from shale-producing
countries from around the world, comparing them to those that have
fallen behind in the shale race. They show that private property
rights and markets have been a source of innovation and dynamism
and that a diversity of regulatory responses is appropriate to
govern shale gas development. This book is insightful reading for
academics and professionals interested in the shale boom, the
fracking industry in general, and regulatory policy.
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