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When goods and services aren’t (or can’t be) limited to paying customers, weird things happen in markets. We can end up with public goods such as lighthouses and fireworks displays, or we can get common resources such as (crowded) public parks or fishing waters.
The problem with these types of goods is that, if consumption [...]
Tags: Econ 101 · Environmental Econ · Markets
Yoram Bauman, the stand-up economist, is in China doing some climate change economics-y stuff:
In case you’re curious, OECD stands for “Organization for Economic Cooperation and Development,” and the OECD category on the graphs refers to countries that are members of the OECD, which happen to mostly be developed countries.
Is it bad that my first thought [...]
Tags: Environmental Econ
Preface: I do not self-identify as a libertarian. In fact, I get somewhat irritated by the typical libertarian ideology-driven assumption that less regulation is always the answer. On a potentially related note, some of you have pointed out that I get my panties in a twist over seemingly random things. These [...]
Tags: Behavioral Econ · Environmental Econ · Policy
I will admit that I usually have the TV on when I am working- yes, I realize that this isn’t the most efficient thing to do, but it gives me things to write about, so I think it’s a fair tradeoff. In this case, the thing that caught my eye was the following commercial:
What [...]
Tags: Econ 101 · Environmental Econ
(As before, you have to imagine that in my Marilyn Monroe voice. Also, aren’t my Photoshop skills coming along nicely?) Today is the 100th birthday of economist and Nobel Laureate Ronald Coase. Why is this interesting? Well, for starters, there’s the fact that he’s still alive. Second, there’s the fact [...]
Tags: Econ 101 · Environmental Econ · Markets
