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Economic Value of Government-provided Information

Late 19th-century storm warnings from the U.S. Weather Service yielded substantial, positive net returns to society. Economists are notorious for using both sides of our mouths when talking about the government. We claim that government has a comparative advantage in provision of so-called public goods, such as national defense, the creation of property right systems,Continue reading “Economic Value of Government-provided Information”

Engineering Nature

When employees of a Toronto business complained of headaches, irritated eyes and lethargy, all symptoms of the increasingly common “sick building syndrome,” their CEO called in a biologist. Typically, the answer has been to hire a phalanx of engineers and drain the bank account in an effort to alleviate the problem. In this instance, however,Continue reading “Engineering Nature”