Michael Giberson From the Baltimore Sun, Jay Hancock explains he is unhappy with electric power restructuring in Maryland and with the PJM market. I think he hits some targets and misses others. Assessing the particulars would require a lot of detailed work, probably better done by someone other than me. One big source of agreement …
Jay Hancock is Not Happy with the Pjm Power Market Read More »
Michael Giberson At a December 2010 meeting, the federal Bonneville Power Agency announced that it would not pay wind power producers in its area to curtail during overgeneration events that sometimes result from the way the agency manages water flow through hydropower facilities to comply with environmental regulations. When reservoirs are full, the BPA’s dams …
BPA Won’t Pay Negative Prices to Get Wind Power Producers to Curtail Read More »
Michael Giberson The moral intuition that undergirds price gouging laws may be described as “it is wrong to take advantage of people in distress for personal economic gain.” In states with price gouging laws, the laws are typically in force only during officially declared emergencies. This limitation – that they are enforced only during declared emergencies …
Please State the Nature of the Economic Emergency: a Note on Price Gouging Laws Read More »
Michael Giberson Cornucopian views on resources are back in the news a bit due to John Tierney’s column at the New York Times in which he reports the settling of a wager on oil prices entered into in 2005 with oil industry analyst/peak oil proponent Matt Simmons. In brief, Simmons bet Tierney oil prices would …
Julian Simon and John Tierney Were Just Lucky, He Guesses Read More »
Michael Giberson As any reader of Neal Stephenson’s book The Diamond Age knows, a Young Lady’s Illustrated Primer would be quite handy to have. Unfortunately, technology hasn’t quite advanced to the point necessary to actually produce such a thing. A recently published research report seems like one small step in the right direction. From a …
Michael Giberson In the Washington Monthly, Jeffrey Leonard argues that the president and Congress should join together to kill all energy subsidies. While sorting out what is and isn’t an energy subsidy can be tricky (the U.S. tax code isn’t exactly transparent in all respects), and I doubt a political majority can actually stomach the …
Michael Giberson Interview with Ronald Coase, on the occasion of the establishment of the Coase China Society, an effort to stimulate study and application of Coase’s ideas in China. Interview conducted by Wang Ning, a student of Coase’s now teaching at Arizona State University and co-author with Coase of the book How China Became Capitalist. …
Michael Giberson For more economists caught in the act of navel gazing, check out The Economist‘s forum on the question of whether economists need a professional code of ethics. If you want some background, the urge for a code of ethics came about something like this: Since the end of 2008, economists have been professionally embarrassed by …
Michael Giberson David Warsh, at Economic Principals, sees signs of a revival of interest in the history of economic thought emerge from the recent meetings of the American Economic Association in Denver.
Michael Giberson I like to watch good movies, and particularly for someone who now lives outside a major metropolitan area, Netflix has been unbelievably useful. Netflix really has been amazing. Return one disk by mail and get another a day or two later. Incredible selection. Recently Netflix raised the price on their DVD/Blu-ray rental packages …
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