Lynne Kiesling There’s a lot of exciting work right now in political economy at the intersection of academic scholarship and application to public policy, ranging from law to public finance to regulation to development and beyond. Mark Pennington’s Robust Political Economy is one of the most exciting, thoughtful, and valuable of the recent work in …
Book Review: Mark Pennington’s Robust Political Economy Read More »
Lynne Kiesling Jonathan Adler reports from a PERC workshop on fisheries management and how property rights institutions can reduce pervasive overfishing problems in fishing. Overfishing is a serious environmental and economic problem, and Jon provides excellent links to the body of research showing that property rights institutions, such as tradeable catch shares, can reduce overfishing …
Lynne Kiesling That’s the constant in my assessment of the political theater of the past two weeks — so much sound and fury, and the federal government’s debt rating is still likely to be downgraded. And it deserves to be downgraded, and probably should have had that happen a while ago. I mean, seriously, what …
Lynne Kiesling Steve Horwitz, this morning, on the cronyism between the oil industry and regulatory agencies: Despite the hopes of those who think this can be solved, as the AP report suggests, by better ethics laws or hiring “better” regulators, the revolving door that leads to capture is not a “bug” but a feature – …
Lynne Kiesling Ron Bailey writes at Reason about a new evolutionary psychology paper in the Proceedings of the National Academy of Science. I haven’t read the paper yet, and may well have more to say about it when I do, but Ron’s observations make it worth mention. Ron’s summary: A new study [PDF] in the …
Lynne Kiesling Last week’s heat wave in the US was record-setting. Historically, the combination of a persistent heat wave with static, regulated retail markets and fixed prices has resulted in brownouts or blackouts in peak hours (and, at least from my personal experience with ComEd, exploding transformers in substations). However, as reported by Martin LaMonica …
Lynne Kiesling Pace Don Boudreaux for my shamelessly copying his “quote of the day” meme … my quote of the day is this striking one from Hayek’s essay “Principles or Expediency” (1971): From the insight that the benefits of civilization rest on the use of more knowledge than can be used in any deliberately concerted …
Quote of the Day: Hayek on Expediency and Freedom Read More »
Lynne Kiesling One of the most beautiful (or frustrating) things about the Internet is that if you wait long enough, someone will say what you wanted to … and probably say it more eloquently. Pete Boettke and the commenters on this recent thread did that for me. In this discussion Pete analyzes Tyler Cowen’s argument …
Boettke on Cowen, Smith, Schumpeter, and Stupidity Read More »
Lynne Kiesling A couple of days ago I outlined some remarks I gave at a regulation conference organized by the Istituto Bruno Leoni, and I asked what some of the risks are associated with electricity regulation. In the comments on that post, Ed Reid and David Zetland touched on what I think are two important …
Lynne Kiesling I’ve just returned from a conference on regulation in Bulgaria organized by the Istituto Bruno Leoni, a classical liberal think tank in Italy that does a lot of extremely good work developing and applying classical liberal principles and ideas to public policy issues in Italy and Europe. The topics included financial markets regulation, …
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