How to Reduce Archaeological Looting

Readers of Archaeology Odyssey are no doubt aware of the magazine’s dedication to finding a realistic and effective solution to the problem of rampant archaeological looting.

As economists, we first became interested in archaeological regulations and markets in artifacts after reading about the public uproar concerning the fate of an ancient stone formation in downtown Miami, Florida, which was dubbed the “Miami Circle.” After a protracted legal and political battle, the local and state governments bought the site (for over $26 million) from its owner, who had intended to develop it for commercial use.^a

It seems obvious that such a large government expenditure is not a dependable way of dealing with threats to known and possible archaeological sites. We propose a different solution: allowing markets to become a positive force in the preservation of archaeological artifacts and the reduction of destructive looting.