Lynne Kiesling Here’s another great video from Learn Liberty: Sean Mulholland introducing the “tragedy of the commons”, which, as he accurately notes, is more accurately called the problem of open access. If you teach a class where you talk about this problem, or want to learn more about this fundamental ill-defined property rights foundation of …
Lynne Kiesling One of the most beautiful aspects of market processes is how individuals create and take advantage of new profit and growth opportunities by creating value for others. Here’s a case in point that will resonate with many of you, given the outstanding diligence and insight of Mike’s fracking analyses here: clean water for …
Lynne Kiesling In 2011, roughly fifteen years after the passage of the first state-level electricity regulation restructuring legislation (in states like California, Pennsylvania, Maine, …), retail competition for residential customers remains anemic in most of the 15 states + DC that have implemented restructuring and allow retail choice. Lots of possible theories exist for such …
Electricity Restructuring and the Failure to Quarantine the Monopoly Read More »
Lynne Kiesling Too many people are writing and saying too many interesting things to digest on the debt actions in the eurozong and the debt downgrade in the US … and some people are saying some extremely misinformed and silly things too. But I’d like to highlight a few comments I’ve read today and over …
Lynne Kiesling A ruling last week from Minnesota’s Court of Appeals provides an interesting case study in using common law and legal liability (a la Coase) in an environmental case. As summarized in the St. Cloud Times, the issue at hand is pesticide drift — when pesticide spray on one field is carried over to …
Lynne Kiesling Today’s global stock market correction is a humdinger, and is almost certainly the result of multiple factors — expectations of minimal impact of debt ceiling deal, tepid domestic and international manufacturing data, tepid domestic unemployment data, expectations of tepid employment data tomorrow, and what’s really the 800-pound gorilla here, the eurozone debt and …
Blaming Obama for Global Equities Drops? Really? Read More »
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 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 »
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