![]() Hill, was not nearly as “wild” as has been depicted by some historians and by Hollywood. Nevertheless, the West, as described by Terry Anderson and P J. ![]() frontier during the nineteenth century took place in an environment where government was largely absent. The use of common property resources also may require an authority, whether a government entity or a substitute, to help ensure that the exploitation of the resource does become a “tragedy of the commons.”Įconomic activity on the U.S. Government is often the agent that enforces contracts, but where government is weak or non-existent, other enforcement mechanisms may emerge. Implicit in economic transactions is the understanding that the parties will fulfill the terms of the exchange to which they have agreed. ![]() Lewis, Department of Economics, Queen’s University. Stanford: Stanford University Press, 2004. Hill, The Not So Wild, Wild West: Property Rights on the Frontier. The Not So Wild, Wild West: Property Rights on the Frontier Author(s):
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