Via Coyote without comment.
Category Archive for 'Central Planning'
Today I reprint a slightly edited piece I put together several years ago. I’d change a lot of it, from the content to the tone, if I were to do it over – but one must live with one’s younger self. Happy Thanksgiving to all. Four centuries after the celebration of the first Thanksgiving, there […]
Hamilton in Federalist 68: The process of election affords a moral certainty, that the office of President will never fall to the lot of any man who is not in an eminent degree endowed with the requisite qualifications. Talents for low intrigue, and the little arts of popularity, may alone suffice to elevate a man […]
I’ve spent most of my “academic” time the past two summers studying and writing on the economics of climate change. It has become quite clear to me that were we to line up the honest economic and environmental experts and received their honest assessments about what the worst case scenarios look like, and where the […]
In Nordhaus’s Climate Casino (recommended), in describing the problem when market prices do not fully capture all resource costs: However, the unregulated invisible hand sets the prices incorrectly when there are important externalities. Therefore, governments must step in and regulate or tax activities with significant harmful externalities. Global warming is no different than other externalities; it requires […]
In revisiting my class discussions on the economics of public goods, I came across a paper from the OECD that incredibly I had never been aware of. One of the major results in the paper is shocking. Now the sample size, as with all cross-country analyses, is small, and there are the usual caveats about […]
One reason I think some folks are suspicious of geoengineering solutions to climate change or biotechnology solutions to feeding people and clothing people is that these are not solutions where we “pay for our sins.” If humans perceive “easy” technical fixes to problems, that will not only make us less nervous about what future damages […]
As you probably all know, social security is a transfer program, not a retirement program. Aside from eliminating the program entirely, which advocating for would have you removed from polite company, here are some things to consider about it. The system is in far better shape than Medicare. Medicare is the big elephant in the […]
Readers, just reminding you that in 2016, the Corporate Average Fuel Economy of an automaker’s vehicle fleet of “cars” is supposed to be 36 miles per gallon (that was what I initially thought, but Wiki says it is FORTY ONE!). Question, how many cars on retailer floors even have this as part of their sticker? […]
Note that Krugman here is talking about the “textbook Eco 101” approach and not, of course, the “better” Eco 108 non text-book approach we take! In any case, he is making a point that I try to make, endlessly so – that the world is a bit more complex than Eco 101-ism suggests it is. […]