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Definitely Good Enough For Government WorkAre regulatory costs overestimated or underestimated by academics and government types? Depends on the case, of course. But the conventional wisdom is that the bias is toward overestimation because, when push comes to shove, industry finds cheaper ways to the job done. In a new paper, though, EPA economist David Simpson questions that conclusion. It’s not a slam dunk—data are scarce. Still, we think his analysis adds a neat new angle to this debate.
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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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