Lynne Kiesling [sorry for the pun-ed.] In doing my morning reading I find posts at EconLog from both Arnold Kling and David Henderson that are in line with my thoughts on government bailouts and increasing anger and frustration. Arnold says Starting last September, our country has gone through six months that shook the world. We …
Lynne Kiesling Count me in as a taxpayer, mortgage holder, and economist who thinks that the Obama mortgage bailout program is bad policy-it’s expensive with little obvious benefit, it creates bad incentives and ex post rewards bad decisions (bad decisions that were abetted by bad government policy), and it’s morally reprehensible. Peter Klein’s remarks on …
Lynne Kiesling I hope you’ve all seen P.J. O’Rourke’s Financial Times column from last week on what Adam Smith would have to say about our current economic and financial events. Adam Smith was one of the most astute observes of human nature ever, and applied those insights well to analyses of incentives and political institutions. …
Michael Giberson Utility-scale renewable power is sometimes said to suffer from a “chicken and egg” problem when the high quality renewable resources are far from existing customer load or suitable long-distance transmission lines. The asserted problem is that no one would develop the renewable resource unless they have a means to move the power to …
The Wind Power ‘chicken and Egg’ Problem in the Eastern Interconnection Read More »
Lynne Kiesling I’ve read a few very striking things this morning. On Tuesday at Econlog David Henderson made some comments about Russ Roberts’ commentary in Monday’s Boston Globe. Both are very good reads. David’s concise comment here reflects my thoughts: And the best two sentences: “But maybe we simply don’t have the knowledge to repair …
Knowledge, Uncertainty, and Government Spending Links for Today Read More »
Lynne Kiesling Why has there been very little discussion here at KP of the so-called stimulus debates and legislation proposals? I am not a macroeconomist, so I don’t have any specific expertise in the nuances of monetary or fiscal policy’s effects. I also don’t like the general tone that the online debate has taken; enough …
Michael Giberson WABC-TV reported Friday on what was likely the highest priced retail gasoline in the country: an Exxon station in Summit, New Jersey was offering regular grade gasoline for $4.89/gallon. According to AAA’s Daily Fuel Gauge Report, the current average price in the US is about $1.85/gallon, and the average price in New Jersey …
Most Expensive Gasoline in America – a Zone Pricing Protest Read More »
Falling permit prices mean that the cost of reducing carbon emissions is going down. If reducing carbon emissions is a worthy public policy goal, then attaining that goal is becoming cheaper.
Lynne Kiesling On Thursday President-elect Obama named law professor Cass Sunstein to head the Office of Information and Regulatory Affairs, an executive-branch office with the mission of analyzing and coordinating federal regulation. Most recently, Sunstein is known for his work with Richard Thaler on “choice architecture” and behavioral public policy, including their book Nudge. Others …
Michael Giberson At the Streetwise Professor, Craig Pirrong writes that the periodic interruptions in natural gas flows from Russia across Ukraine present a “classic bilateral monopoly situation.” Bottom line–there are no saints involved in this episode. There is a classic bilateral monopoly situation. Each side is using its leverage to try to extract as much …
Russia and Ukraine Natural Gas Disputes Illustrate the Bilateral Monopoly Problem Read More »
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