• 00:01    |    
    Initial credits
  • 00:27    |    
  • 00:54    |    
    Economic problems of natural resource industries
    • Create incentives to discover resources
    • Allocating resources
    • Appropriate tradeoffs
    • Environmental responsibility
    • Avoid the "resource course"
  • 03:21    |    
    Pillars of Free Market Environmentalism (FME)
    • Incentives
    • Property rights
    • 3-D Property rights
    • FME Analysis
  • 06:10    |    
    U.S. Mining Law Framework
    • Before 1849: Federal leases
    • 1849-1866: Customary legal regimes
    • 1966-to date: General Mining Law
  • 10:12    |    
    California in the Gold Rush years
    • Cultural diversity
    • Valuable property of equipment
    • Location of the State
    • Foundation of California
  • 15:40    |    
    The Gold Rush
    • Population growth
    • Creation of rules
      • Mining camps
      • Basic rules
        • Miner´s meeting
        • Limited rules
    • Evolution of mining technology
    • Water rights
    • Arrival of the State authorities
    • Foreign miners tax
  • 24:07    |    
    General Mining Law of 1872
    • Recognition of customary law
    • Formalized discovery and claim process
    • No administrative discretion
  • 26:31    |    
    Solution of economic problems of mining industries
    • Incentives to discover resources
      • High location costs
      • Government's credibility
      • Mining patents
    • Allocation and Corruption
      • High costs of discretion limitation
      • Removal of discretion
      • Self initiation
    • Appropriate tradeoffs
      • Mining v. other development
      • Residual claimant's incentives
    • Environmental responsible operation
      • General problem of pollution
      • Unusual features of mining
        • Technological development
        • Mining cleanup bonds
      • Technological solutions
    • Avoid the "resource course"
      • Resources fund corruption
      • Reduction of incentives to invest
  • 43:42    |    
    Criticism to General Mining Law
    • Relaxation of General Mining Law requirements
    • Removal of specific lands and resources
    • Elimination of free access and self-initiation
  • 45:51    |    
    Political coalitions
    • Regional conflicts
    • Green v. economic interests
    • National security issues
    • Industry and cross-mineral disputes
  • 49:50    |    
    Bibliographical resources
  • 50:14    |    
    • How is the environmental responsibility of foreign mining companies in Peru?
    • Do you think that International mining standards should exist?
    • What are the differences between the U.S. property rights and the Guatemalan property rights?
    • What is the purpose of mining insurance?
    • How can wrong mining practices affect the future prices of minerals?
    • Can Guatemala require the International Standards Association to verify that ISO-14000 is being complied?
    • How should the appropriate mining policy be?
    • Is The World Watch Institute (WWI) report unbiased?
      • Description of the 2003 WWI report
      • Effects of corruption
    • Why do NGO's are opposed to mining? What is their influence on Guatemalan institutions?
    • Environmental improvements of mining
    • Do you think that some environmental movements are being funded by large oil companies?
  • 01:19:56    |    
    Final words
  • 01:20:04    |    
    Final credits

Property Rights and Mining: Lessons from the US Experience

New Media  | 03 de noviembre de 2006  | Vistas: 1713

About this video

The economic problems of the mining industry are: incentives to discover, proper allocation of resources, corruption, appropriate tradeoffs, environmental responsibility, and the resource course. In the 19th Century, The U.S. General Mining Law and the California Gold how can private property rights solved these problems and promoted the development of the mining industry.


Property Rights & Mining: Lessons form the U.S. Experience
Seminary "Human Nature: Destructive or Creative?"
Andrew Morriss

Escuela de Negocios EN-601
Universidad Francisco Marroquín
Guatemala, November 3, 2006

A New Media - UFM production. Guatemala, November 2006
Translation: Gretel de Ippisch; camera: Alexander Arauz, Rodrigo Escalante; digital editing: Rodrigo Escalante; index: Christiaan Ketelaar; publication: Pedro David España; content reviser: Katty Schellenger


Andrew Morriss is D. Paul Jones Jr. & Charlene Angelich Jones…


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín