In 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 …
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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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