The Not So Wild, Wild West: Property Rights on the Frontier (Stanford Economics & Finance)
"Hollywood will never be able to top this portrayal of the history of the West in the U.S. The history that Anderson and Hill depict is the current situation of the majority of entrepreneurs in developing and former Soviet countries. It is not only an extraordinary insight into the genesis of America, but also the key to understanding better the Middle East, Central Asia, and all the Third World today."—Hernando de Soto, President of the Institute for Liberty and Democracy"Emergent, self-ordering institutional arrangements and property right norms are commonplace. But they are invisible to all those who rely upon them to create wealth, and who may believe falsely that all such rules come from legislated law. Anderson and Hill have made visible an impressive array of examples from US frontier history."—Vernon L. Smith, George Mason University, 2002 Nobel Laureate in Economics"Far from being an anarchic free-for-all, the American West was a ferment of social innovation, a place where men and women strove to invent co-operative arrangements they could trust. Anderson and Hill powerfully undermine the pervasive idea that social order and property rights are imposed from above by the state, and reveal instead that they are usually achieved from below by free negotiation between individuals."—Matt Ridley, Author ofThe Origins of Virtue: Human Instincts and the Evolution of CooperationandNature via Nurture"The Not So Wild, Wild Westrepresents the best of what the new institutional economics can contribute for understanding economics and political behavior in the American West."—Gary Libecap, Eller College of Business and Public Administration, The University of Arizona"This is a book that had to be written, and Anderson and Hill are the ones that had to write it. Literature on the American West has placed too much emphasis on wars, violence, and conflict. Rather time and time again, as this book shows, institutions were devised that peaceably allocated resources and resolved conflicts."—Mark Kanazawa, Carleton College