I noticed something yesterday (Tuesday) that is quite different from the last several visits I made here, and from when I lived here four years ago. There are many, many more cyclists on the roads, and the cyclists no longer wear face masks to filter out the particulate in the air. London’s air is still …
I spent three-plus hours yesterday at the Victoria and Albert Museum, a monument to Victorian intellectual omnivorousness (and the grandeur of the Empire, of course). Most of this time I spent only in the ceramics and pottery galleries. The evolution of ceramics uses, decoration, themes and techniques illustrates and parallels economic growth more broadly. The …
The History of Economic Growth Through Ceramics, a Story Read More »
An interesting story on the political dynamics of OPEC from today’s (sorry, no specific link, I am reading the print version). At the upcoming meeting in Vienna, OPEC is expected to choose Alvaro Silva, Venezuela’s current energy minister, as secretary general. The current secretary general, Ali Rodriguez, is Venezuelan, and Silva will serve out the …
According to this Associated Press story and this Reuters story, a California Senate investigation has found email evidence that the Los Angeles Department of Water and Power, the largest municipal utility in the country, may have engaged in some of the same trading practices that have been called “market manipulation” when performed by independent generators. …
I am leaving tomorrow for London and Aberdeen, to give presentations at the Institute of Economic Affairs and the annual meetings of the International Association of Energy Economics. I am leaving town at the right time, as my Cubs continue to be depressing (although at least Alou’s hitting is coming along, he just hit a …
Leave it to my eloquent former colleague Virginia Postrel to pick up on an extremely good analysis of the economics of antitrust law by Paul Joskow. I read this article on the plane to San Francisco last Friday, and it was one of the most compelling arguments I’ve seen yet for why actions, institutions and …
Postrel on Microsoft, Joskow and Transaction Costs Read More »
Following up on an article in Monday’s Wall Street Journal (subscription required), I’ve been reading up on Irbis Enterprises. Irbis, which means “snow leopard” in Mongolian, is an organization attempting to align the incentives of nomadic herders in Mongolia with not killing snow leopards to sell their coats. As the WSJ article says, Irbis … …
Two interesting stories today illustrate some very important points about how world oil markets are evolving. This Bloomberg News story describes how Russia and Norway are changing the dynamics of OPEC’s ability to restrict output to raise prices: Russia and Norway plan to end six months of output cuts and cooperation with the Organization of …
Another Los Angeles Times story, State Energy Plan Offers Conservation Incentives, says that the California Power Authority will pay large industrial users to cut back their electricity use. According to the article, The program will rely on satellite technology and real-time electric meters to dim air conditioners or lights automatically when the state’s power buyers …
Gasoline Prices Rise in California This story (registration required) does a good job of illustrating how being so close to refinery capacity can contribute to gasoline price spikes. Although prices this summer are not high either historically or adjusted for inflation, they are exhibiting some of the usual “increase before driving holidays” pattern. The fact …
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