This collection of new and classic essays by a group of distinguished economists and wildlife experts challenges the prevailing idea that wildlife and markets are inimical to one another, arguing that markets can play an important role in preserving animal species and their habitat. In fact, the editors argue, the late nineteenth-century slaughter of wild game occurred because common ownership gave no incentive for hunters to limit their take or for owners of habitat to invest in wildlife. Using case studies from North America and southern Africa, the essays discuss how 'enviro-capitalism' has been successfully implemented to encourage elephant and rhino preservation and look at the politics of the international ivory ban. They examine the historical role of incentive wildlife management and the problems with political wildlife management that do not take into account the ownership of habitat.