Freedom

[almostbusto]

there is no violation of rights in either solution.


this is how the problem is looked at from a libertarian point of view.


there is a problem that is resulting from externalities
all involved in the problem begin to bargain.
they find and voluntary accept a compromise.
result is a voluntary agreement between parties that minimizes (or maximizes in the case of positive externalities) the effects of the externality.

this works great with problems associated with common property. a great example was the american bison back in the days of buffalo bill. back then buffalo were coming property, meaning the only way you could own a buffalo was to shoot it. therefore there was a strong incentive to kill as many buffalo as possible and little incentive to manage the herd. the result was near extinction of the buffalo.

if someone actually owned the buffalo, they obviously would never allow extinction if it was at all possible. instead the would restrict the amount of buffalo that would be allowed to be hunted in order to have a strong enough herd to continue to allowing hunting in the future.