By Bruce Yandle Clemson University Economists, policy analysts, and politicians often rattle the bones of brilliant economists long passed when making a case for a favorite policy or legislative action. John Maynard Keynes has again become a popular icon for justifying deficit spending in the face of severe recession. There are other days when JosephContinue reading “Much Ado about Pigou”
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Environmental Kuznets Curves, Carbon Emissions, and Public Choice
Environmental Kuznets Curves for carbon emissions raise doubts about the feasibility of reducing global carbon emissions..
Repeated adjustment of delegated powers and the history of eminent domain
The authors explore the history of eminent domain in the United States—a history characterized by periodic public backlash.
National TV Broadcasting and the rise of the regulatory state
The rise of national markets associated with national TV networks led to the expansion of federal social regulation and a simultaneous decline of federal economic regulation.
Grassfed Beef and the Politics of “Local”
“Local,” they say, “never goes out of season.”
Enviropreneurs Expunge Externalities
Wikipedia—externality: an impact on a party that is not directly involved in the transaction. PERC—enviropreneur: a person who has no patience for externalities. For several years, I have been on a campaign to expunge the term “externality” from the vocabulary of economists, policy makers, and environmentalists. My campaign is not motivated by a belief thatContinue reading “Enviropreneurs Expunge Externalities”
In Praise of the 10,000 Mile Diet
The 100-Mile Diet, inspired by Alisa Smith and J.B. MacKinnon who participated in a one-year experiment in local eating, led thousands of individuals to change the way they eat. “Eat local” has become a mainstream mantra of those who claim that increased local food production and consumption have significant economic, environmental, and social benefits.Continue reading “In Praise of the 10,000 Mile Diet”
Banking on Colorado Water
The consequences could be dire. But they don’t have to be.
The importance of transferable ownership
Property rights enable humans to acquire, use, and dispose of assets. There is a burgeoning literature on the importance of secure property rights in promoting economic prosperity, improving environmental protection, and ensuring individual liberty. A recent addition to this literature by Randall Akee (2009) shows just how important it is that the transfer (sale orContinue reading “The importance of transferable ownership”
Living in the new wild west
Ecological abundance. That’s not a pairing of words you hear too often these days. It’s more common to hear of ecological distress. However, both opportunities and problems associated with great ecological abundance may be seen in Montana’s Madison Valley. Lying just northwest of Yellowstone National Park, the Madison presents an eyeful. Vast herds of elk,Continue reading “Living in the new wild west”