Regulation

What the Maryland Psc’s Rejection of Bg&e’s Smart Grid Proposal Reveals About Regulation

7 Comments / Economics, Electricity, Regulation, Technology / By

Lynne Kiesling Last week the Maryland Public Service Commission rejected Baltimore Gas & Electric’s proposed project to install over 2 million digital electric or gas meters, change the retail electricity rate structure to incorporate time-of-use pricing and peak-time rebates, and recover the meter capital costs through a surcharge on residential retail bills. BG&E’s ambitious and …

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Pigou As Public Choice Economist, Not a Pigouvian

6 Comments / Economics / By

Lynne Kiesling I was intrigued last week to read Bruce Yandle’s short piece in Regulation discussing Pigou and his ideas about taxation in the context of modern “Pigouvian” policy proposals. I recommend his essay highly; it communicates eloquently how Pigou’s ideas are currently being used as a justification for a variety of forms of taxation. …

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Crandall & Winston on Financial Regulation

1 Comment / Economics / By

Lynne Kiesling My thanks to Arnold Kling for the link to this October Forbes article from Robert Crandall and Clifford Winston remarking on financial regulation. They point out, correctly, that the re-examination and soul searching about macroeconomics in which we are currently engaged overlooks the great insights and policy successes that microeconomics-based deregulation have brought …

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Private Wires and the Electric Power Industry You Want

5 Comments / Electricity, Energy markets, Liberty, Regulation / By

Michael Giberson The New Republic has an excellent article by Bradford Plumer about the current state of the electric power industry and the prospects of the industry achieving what diverse interests expect of it. (Yes, in TNR, who’d a thunk it?) The article highlights the political economy of regulated electric utilities and their immense lobbying …

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Paternalistic Regulation and the Knowledge Problem

2 Comments / Economics / By

Lynne Kiesling A recent essay from legal scholars Todd Zywicki and Josh Wright analyzes the proposed Consumer Financial Protection Agency, and over at Volokh, Ilya Somin adds to their analysis based on his own research. Both pieces are founded on an important core idea — paternalistic regulation that is grounded in the desire to mitigate …

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