Economics

The Tsa’s Wholesale Violation of Our Civil Rights, Including Economic Liberty

9 Comments / Economics, Liberty, Transportation / By

Lynne Kiesling I have been a too-silent opponent of the Patriot Act’s authorization of invasive surveillance in the name of national security. One of the consequences of that authorization has been the growth of the Department of Homeland Security and, under it, the formation and growth of the TSA. Those of us who travel frequently …

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An Example of Ways Poorly Constructed Markets Can Fail

2 Comments / Economics, Technology / By

Michael Giberson From the Mim’s Bits column in the MIT Technology Review: “How Mechanical Turk is Broken Why the world’s most famous outsourcing hub for tiny tasks is littered with spam and shoddy workmanship.” Mechanical Turk (MTurk) is Amazon’s site for linking companies seeking small web-based tasks requiring at least a bit of human intelligence …

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My Grid-interop Talk: Regulation’s Role in Stifling Innovation

Economics, Electricity, Regulation / By

Lynne Kiesling In early December I had the pleasure of delivering some lunch remarks at the Grid-Interop conference in Chicago. Grid-Interop is a great place for those interested in innovation in the electricity industry to share ideas about technology, business models, the interoperability that enables such creativity, and the role of economic regulation in how …

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Macroeconomic Implications of Residential Electricity Consumption

2 Comments / Economics, Electricity / By

Lynne Kiesling At Grist, Sean Casten muses on the macroeconomic implications of trends in electricity consumption. His musings focus on the established correlation between electricity consumption and economic activity, an association that he fleshed out in an earlier post. In these two posts he looks at trends in residential, commercial, and industrial electricity consumption over …

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Chinese Government Having Trouble Getting Fuel Prices Right

Economics, Energy markets, Politics / By

Michael Giberson From the Financial Times beyondbric blog, some somewhat puzzling news from China about how the government’s decision to raise gasoline prices was leading to long lines at gasoline stations. In Beijing on Tuesday, long lines began to form around gas stations across the city. It was one of the first tangible signs of the …

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Iran Cuts Fuel Subsidies and Other Energy and Economics Links

Economics, Electricity, Energy markets, Professional sports / By

Michael Giberson A couple of interesting readings: The New York Times reports, “Gas Prices Soar in Iran as Subsidy Reduced.” (Also: Washington Post, Wall Street Journal.) Cape Wind Project still has half of its capacity up for sale. (Local utility claims it can find cheaper renewable power elsewhere.) The Economist, “Why do firms exist?” on …

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Oil Flows in Ghana, is the Resource Curse Soon to Follow?

Economics, Energy markets, Politics / By

Michael Giberson TAKORADI, Ghana — The impoverished West African nation of Ghana become the world’s newest oil producer Wednesday, pumping crude for the first time from an offshore field worth billions of dollars in the Gulf of Guinea. President John Atta Mills turned the oil valves Wednesday during in an inaugural ceremony broadcast live from a storage vessel …

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Did They Really Say That? Gasoline Market Stress Coming to Eastern Washington, So Officials Offer Advice

Economics, Energy markets, Regulation / By

Michael Giberson One consequence of a 14-week project to replace several locks on dams on the Columbia and Snake rivers is that gasoline transportation costs will rise in the area. Some gasoline that would have traveled up the river will have to move by train and truck instead, a more expensive process and one much …

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Hotel Rate Price Gouging During Snowstorm

5 Comments / Economics, Regulation, Technology / By

Michael Giberson Or maybe I should title this post, “Hotel charged peak prices during peak demand period,” or better still: “Hotel price gouging promotes public safety.” A Sea-Tac Airport area hotel raised its rates dramatically as it filled up during a snowstorm one night last month, and several patrons were shocked by bills from almost …

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