Waterless fracking?

Lynne Kiesling Pale Rider is one of my favorite Clint Eastwood movies. One of its central themes revolves around classic property rights concepts in a community of miners that includes a number of small pan miners and a family that has built a larger, hydraulic mining operation that essentially uses pressurized water to blast rock… More Waterless fracking?

Does a public good argument justify subsidizing private energy production?

Michael Giberson Yesterday I disputed the analysis by which the Breakthough Institute wanted to claim credit on behalf of the federal government for the shale gas boom; today I dispute their claimed broader implications for federal energy R&D policy. Late in their op-ed, the Breakthrough folks shift emphasis from a narrow drilling technology story to… More Does a public good argument justify subsidizing private energy production?

Did the federal government invent the shale gas boom?

Michael Giberson In the Washington Post the folks at the Breakthrough Institute try to learn us some history about the shale gas boom. Maybe you think the shale gas boom was some big surprise suddenly made real after the decades-long work of a hard-headed oil and gas guy – George Mitchell – willing to spend… More Did the federal government invent the shale gas boom?

David Henderson on crony capitalism

The KP Chicago contingent is still on vacation, barely recovered from the end-of-term rush and grading, and the KP Texas contingent is still head-down-pen-moving over the aforementioned grading; thus the relative calm here. In the interim, I cannot recommend highly enough David Henderson’s recounting of his talk at Occupy Monterey. David’s notes contain substantive and… More David Henderson on crony capitalism

Happy birthday, Bill of Rights; you will be missed

Yesterday was the anniversary of the original signing of the Bill of Rights to the U.S. Constitution. Congress commemorated that birthday by passing the National Defense Authorization Act, which still leaves interpretive room for detention of U.S. citizens without due process even after the word smithing that left President Obama the executive power he wants,… More Happy birthday, Bill of Rights; you will be missed

“Market failure”: you keep using that term. I do not think it means what you think it means.

Lynne Kiesling Steve Horwitz’s column in The Freeman today is a great explication of why the phrase “market failure” is so problematic, and so often misused and abused in public policy analysis when employed to criticize market outcomes. Steve does a good job of explaining the origins of the phrase in the standard textbook case… More “Market failure”: you keep using that term. I do not think it means what you think it means.