Book excerpt: The past several decades have witnessed a growing recognition that environmental concerns are essentially property rights issues. Despite agreement that an absence of well-defined and consistently enforced property rights results in the exploitation of air, water, and other natural resources, there is still widespread disagreement about many aspects of America's property rights paradigm. The prominent contributors to Who Owns the Environment? explore numerous theoretical and empirical possibilities for remedying these problems. An important book for environmental economists and those interested in environmental policy.