This fascinating study of the role property rights play in preserving natural resources traces the changing uses of the Black Hills National Forest, from its beginnings in 1898 to the present day. Geores argues that, contrary to widely-held notions, local management of property does not lead inevitably to the degradation of resources. Rather, the Black Hills National Forest has flourished as a multiple-use environment when local people have actively helped manage it instead of leaving its care to the Forest Service.