The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. - F.A. Hayek
Posted in Economic Illiteracy, Environment, Resources, You Can't Have it Both Ways on Jun 9th, 2008
There’s no shortage of people claiming that the world cannot sustain population levels at the current size (just under 7 billion) much less a larger population. A common claim is that the planet’s resources will be consumed unsustainably, eventually leading to world starvation, famine, war, and population declines.
Posted in Environment on Jun 6th, 2008
Posted in Environment on Apr 28th, 2008
Begin with the current inventory of carbon dioxide emissions - CO2 being the principal greenhouse gas generated almost entirely by energy use. According to the Department of Energy’s most recent data on greenhouse gas emissions, in 2006 the U.S. emitted 5.8 billion metric tons of carbon dioxide, or just under 20 tons per capita. An […]
Posted in Environment on Apr 22nd, 2008
On this Earth Day, I reproduce in its entirety a letter by the late Julian Simon:
EARTH DAY: SPIRITUALLY UPLIFTING, INTELLECTUALLY DEBASED
April 22 marks the 25th anniversary of Earth Day. Now as then its message is spiritually uplifting. But all reasonable persons who look at the statistical evidence now available must agree that Earth Day’s scientific premises […]
Posted in Environment on Mar 2nd, 2008
The first chapter of a leading environmental economics textbook is on global warming. Nothing about the big picture, or efficiency, or market imperfections, or normative v. positive questions, etc. Nope, just global warming. I suppose it is useful as a motivating tool for the textbook - such as how economics can help us think about […]
Posted in Environment, Unintended Consequences on Feb 29th, 2008
Many claim that environmentalism is good business. This paper suggests that this is not the case. I am sure it will be accused of focusing on short-term effects only and all sorts of other sordid things. But its findings need to be considered seriously.
Posted in Economic Illiteracy, Environment on Nov 5th, 2007
My employer recently held a conference on Global Climate Change. A blow-by-blow account will be forthcoming. In the meantime I was struck by a several themes than ran through the conference, particularly among the presenters. We had world renowned climate scientists, economists and theologians here addressing this important issue.
To a man, almost every person here […]
Posted in Environment on Oct 31st, 2007
“Public Policies Against Global Warming,” by Hans-Werner Sinn, CESifo Working Paper #2087, August 2007
Harold Hotelling in 1931 demonstrated how owners of non-renewable natural resources would extract that resource to maximize profits. Take the case of an oil field. Owners would optimally extract oil today if the expected return on the proceeds from the sale of […]
Posted in Environment on Aug 17th, 2007
This ran in the August 20th edition of our local paper.
To the Editor
The Berkshire Eagle
75 South Church Street
Pittsfield, MA 01201
Dear Editor:
I’d hate to blow out the candles of the celebration recognizing the powering up of the new Jiminy Peak wind turbine (”Jiminy Turbine Powered Up“, 8-16-07), but wind power is not green. Leaving aside the […]
Posted in Environment on Aug 15th, 2007
The conclusion of Jesse Ausubel’s excellent paper should be mandatory reading for grade and high school science students, who are sure to be getting sold a different bill of goods.
Because hydrogen is much better stuff for burning than carbon, the hydrocarbons form a clear hierarchy. Methane (mjr: natural gas) tops the ranking …
The energy density […]
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