Since the arrival of the Motorola DynaTAC in 1973 (weighing in at 2.2 pounds), cell phones have gone from bulky contraptions capable of only the most straightforward communications functions to gee-whiz devices that allow users to do anything from finding directions to the nearest sushi joint to viewing …
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By Robert Hahn, Peter Passell | Tags: Economic Growth, Gerry Faulhaber, Leonard Waverman, Meloria Meschi, Melvyn Fuss | Category: Interesting Research |
 Leave a commentRobert Litan’s working paper on what financial innovation hath wrought is a must read. [Download Here] He set out to determine whether the radical changes in the way financial markets function over the past half-century deserve the bad rap … As part of the FCC’s National Broadband Report to Congress, Gregory Rosston, Scott Savage and Donald Waldman surveyed households to determine how much they would be willing to pay for specific features/attributes of broadband Internet service. Turns out that, across the board, people … 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 |
Leave a commentIn love with your iPhone, but irritated that the marvelous gadget works only on AT&T’s network? Join the crowd. But don’t jump to the conclusion that Apple’s exclusive marketing agreement with AT&T – or any other handset maker’s exclusive agreement with a network provider – undermines competition in the market for … By Robert Hahn, Peter Passell | Tags: Hal Singer, Milken Institute Review, Robert Hahn, smartphones | Category: Interesting Research |
Leave a commentWhile the causes of the Great Depression of the 1930s—or, at least, the relative importance of the causes—remain in dispute, few economists disagree that “beggar thy neighbor” trade policies deepened the catastrophe. No college course in American history these days lacks a reference to the infamous Smoot-Hawley Act of 1930, … By Robert Hahn, Peter Passell | Tags: CEPR, Global Trade Alert, Great Depression, Jakob Madsen, protectionist, Recession, Simon Evenett, Smoot-Hawley, Trade | Category: Interesting Research, Trade |
Leave a commentIn the beginning, economists touted emissions taxes and cap-and-trade systems as efficient, market-friendly methods for reducing pollution. The idea: put a price on pollution equal to the damage it caused or decide what level of emissions was acceptable to society as a whole, and then let businesses decide how to minimize … By Robert Hahn, Peter Passell | Tags: cap-and-trade, carbon tax, Climate Change, David Weisbach, environmental economics, Martin Weitzman, safety valve | Category: Interesting Research |
One commentAs economists are way too fond of saying, there’s no free lunch out there. But some lunches are cheaper than others. And finding less expensive ways to contain the accumulation of greenhouse gases in the atmosphere will be central to a workable climate change policy. Robert Stavins, the … By Robert Hahn, Peter Passell | Tags: cap-and-trade, carbon sequestration, Climate Change, land use regulation, Robert Stavins | Category: Interesting Research |
One commentWhy are the economies of affluent, market-based economies so heavily regulated? Or, turn that around: how can heavily regulated economies operate efficiently enough to create high living standards? The questions don’t have much traction for non-economists; regulation, after all, is widely viewed as what prevents the powerful from taking advantage … Andrei Shleifer explains [Download Here] the relative success (and omnipresence) of regulation in modern economies by the relative failure of private alternatives (contract enforcement, tort adjudication). Christopher DeMuth, president emeritus of the American Enterprise Institute and a former crusader against regulation in the Reagan administration, … |
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