In the late 1970s, America’s freight railroads were collectively bankrupt, victims of a combination of rapacious unions, bad management and regulatory squeeze between long-distance truckers and well-organized shipping interests. Three decades later, they are financially healthy and delivering much better service. Consolidation, better management and some concessions from organized labor …
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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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