Politics

From the “No Surprises Here Department”: Price Controls Cause Chaos in Ethiopian Markets

2 Comments / Economics, Politics / By

Michael Giberson Ethiopia devalues currency => prices jump => consumers complain => government issues price controls to stop price gouging => goods disappear from market shelves. Yep, no surprises here. From www.voanews.com: Price Controls Cause Chaos in Ethiopian Markets Price controls on many staple food items ordered by Ethiopia’s government early this month have reduced grocery bills …

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I Detect a Fundamental Tension in This Headline on Wind Power

6 Comments / Energy markets, Humor, Politics / By

Michael Giberson This amusement, courtesy of Examiner.com: “Wind power officially cost effective, AWEA hopes for more incentives from Feds.” The like link is “http://www.examiner.com/green-living-in-national/wind-power-officially-cost-effective,” but I warn you that the site may try to serve you multiple ads, making the experience more trouble than the story is actually worth. The article does, however, make good …

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State of the Union Watching Advice: Don’t.

6 Comments / Liberty, Politics / By

Michael Giberson From ushistory.org on Thomas Jefferson: “Jefferson also found the State of the Union address to be too magisterial when delivered in person. He performed one and afterwards delivered them, as required by the constitution, only in writing.” (link to usconstitution.net added.) Jefferson was right, the pomp and ceremony surrounding the State of the …

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Ethanol Blather Courtesy of the Epa and the Financial Times

Energy markets, Environmental policy, Politics, Regulation, Science / By

Michael Giberson On Friday, the EPA announced it now believes it is safe to use fuels made with up to 15 percent ethanol in cars, SUVs and light-duty trucks manufactured between 2001 and 2006.  EPA administrator Lisa Jackson said, “Whenever sound science and the law support steps to allow more home-grown fuels in America’s vehicles, this …

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Compact Fluorescent Bulbs Not Living Up to California Program’s Expectations

1 Comment / Electricity, Politics, Regulation / By

Michael Giberson The Wall Street Journal reports that a program to cut energy consumption by subsidizing consumer purchases of  compact fluorescent light bulbs is not working out as planned.  I think we can summarize this as: regulator approves cost recovery for subsidy program to reduce energy consumption, program doesn’t work as well as expected, so regulator approves …

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Evergreen Solar Moves Manufacturing to China

3 Comments / Economics, Energy markets, Environmental policy, Politics / By

Michael Giberson In my view most “green jobs” arguments are bunk. While such estimates may have their practical uses, for the most part they are convenient lies. Industry lies to politicians and bureaucrats to get subsidies, and politicians recycle the lies to get votes. My view is not particularly subtle. Edward Glaeser provides a subtler …

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Please State the Nature of the Economic Emergency: a Note on Price Gouging Laws

3 Comments / Economics, Politics / By

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 …

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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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