Adam Smith symposium: Smith as virtue theorist?

Lynne Kiesling Increasingly I agree with Deirdre McCloskey that over the past 120 or so years economics has moved further away from incorporation of the importance of the Bourgeois Virtues into our analyses of economic decision-making and economic growth. Indeed, I claim that ignoring the effects of virtue on individual decision-making is one of the … More Adam Smith symposium: Smith as virtue theorist?

New atmospheric research on contrails

Lynne Kiesling When I think about climate, greenhouse gases, carbon policy etc., I always worry about the certainty that people (typically politicians) want to attach to models (actually, that statement holds for macroeconomic models too, for the same reasons). The global climate is an incredibly complex system, comprising many individual agents and local systems that … More New atmospheric research on contrails

Commercial, merchant compressed-air energy storage plant under development?

Michael Giberson Wind power RFP processes* are common enough these days, typically driven by renewable energy mandates placed on utilities. A recent wind power RFP announcement out of Santa Fe, New Mexico, is different. A new company, Chamisa Energy, has initiated an RFP seeking wind power to pair up with a planned compressed-air energy storage … More Commercial, merchant compressed-air energy storage plant under development?

Economics error: trade makes people “dependent”

Lynne Kiesling I am listening to an NPR story right now on the conflicts over the construction of the new pipeline to bring Canadian heavy crude oil from the tar sands to the US. Steve Inskeep introduced the story by observing that as Canadian tar sands production increases, US consumers will “become more dependent on … More Economics error: trade makes people “dependent”

How can property rights in subsurface water work in West Texas?

Michael Giberson Texans who have drawn there water supplies from the vast but shrinking Ogallala Aquifer are engaged in a complex process of clarifying and/or renegotiating a more exact notion of just what rights they have to access the resource. A story in the Sunday Lubbock Avalanche-Journal provides an update. Some clever “enviropreneurs”, to invoke … More How can property rights in subsurface water work in West Texas?

Update: Industry, environmental group working on shale gas drilling rules

Michael Giberson Last November we noted that industry and environmental groups in Texas were working together on fracking disclosure rules. Earlier this month a bill was introduced in the Texas House that would establish disclosure rules for fracking fluids. Kate Galbraith reports in┬áThe Texas Tribune, “Texas Could Require Disclosure of Drilling Chemicals“: Hydraulic fracturing, an … More Update: Industry, environmental group working on shale gas drilling rules