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Yin and YangTyler Cowen has an interesting response to Paul Krugman’s post on why the potential to sue for damages is an inadequate substitute for government regulation. (This, of course, is in the context of the oil spill in the gulf.) Judging by the interchange, it’s hard to conclude that either approach works very well as a means of inducing economically efficient outcomes. For more on the general debate, check regulation2point0 here and here and here. |
Professor Dieter Helm (Oxford) is a very fine fly fisherman, and an even better economist. If you haven’t done so, take a look at his new book “The Carbon Crunch: How We Are Getting Climate Change Wrong — and How to Fix It” for a bit of unconventional wisdom. He argues that politicians and the general public have not shown any real interest in addressing climate change. Helm argues that places like Europe should focus on setting a price for carbon that would cover consumption (and not just production), and that fracking could be a good “bridge” technology for reducing consumption of coal. The book is readable and insightful for those interested in the inside track on climate policy. 
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