Prospective law students have pretty good economic instincts. At least that’s our take on the news that U.S. law school applications are down 20 percent from a year ago. According to the Law School Admission Council, the number of applicants is headed for a 30-year low of about 54,000 …
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We’re not entirely sure what we think of Gov. Haley Barbour’s bizarre condition for pardoning the Scott sisters, who had been serving life sentences for a crime committed when they were teenagers. On the one hand, everybody wins from the deal. Gladys gets a kidney (provided they match). Her … Economists are of two minds about the use of courts to manage civil disputes. On the one hand, the threat of litigation makes contracts enforceable and drives tort settlements, thereby minimizing the need for government regulation. On the other, litigation chews up vast resources. Alas, a striking new … By Robert Hahn, Peter Passell | Tags: contract law, Cost-Benefit Analysis, Eric Helland, Paul Heaton, RAND, torts | Category: Interesting Research, Legal Reform |
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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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