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Climate Summit 2021: President Joe Biden Announces the United States Will Aim to Cut Carbon Emissions by as Much as 52% by 2030
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China: Why We Should be Even More Worried After the Devaluation
I find it amusing to read some analysts stating that the Chinese government’s stealth yuan devaluation has offset the impact of tariffs.
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Victories Against Air Pollution
There is a certain kind of environmentalist who seems unable to acknowledge any good news about the environment, because it might create complacency about remaining issues. I'm not a fan of this approach. When successes are denied, credibility diminishes. And if there's never been an environmental success to celebrate, I'm more likely to be discouraged about the future than energized. In that spirit, here are some figures from an Environment Protection Agency annual report, Our Nation's Air.
- 4
Moral Licensing: When Doing Good Frees You to Do Bad
"Moral licensing" is a term from the behavioral psychology literature. Daniel Effron of the London Business School, who has done some of the research in this area, descrbes it this way: "[T]he ability to point to evidence of past virtue can ironically make people more willing to act less-than-virtuously." Or as the title of one article puts it "being good frees us to be bad."
- 6
Reskilling over a Lifetime
The usual pattern of spending on skill development during a lifetime of an American looks like this:
- 5
Economics of Climate Change: Three Recent Takes
Most economists took their last course in physical science many years ago, back in college days, and lack any particular in-depth knowledge of how to model weather or climate. But economists can contribute usefully to the climate change debate in other ways. At least some economists do have expertise in patterns of energy use, potential for substitution, and technology, and thus have something to say about likely future paths for the emissions of carbon (and other greenhouse gases), and what it might take to change these paths. And at least some economists have expertise in thinking about how changes to climate would affect economic and human outcomes, ranging from crop yields to human mortality. Here are a few recent examples.
- 8
Asset Prices and the Real Economy
Back in the late 1990s there was a mini-argument about whether something should be done about the run-up in the stock market. As a reminder, the Dow Jones Industrial Average was at about 4,000 in spring 1995, but reached 11,700 by January 2000. On one side, there was an argument that financial regulators or the central bank should do something to slow down or limit the rise. On the other side, the standard argument at the time (with which I agreed) was that: 1) giving government the power to decide an "appropriate" level for the stock-market seemed unwise for several reasons; 2) acting to choke off the stock market raised a danger of creating a near-term recession; 3) even if/when the bubble burst, the effects of a stock market collapse on the real economy would be muted. Indeed, the 2001 recession was fairly shallow and only eight months long, and while unemployment continued to rise for a time after the recession had ended, the monthly rate peaked at 6.3%.
- 7
Should Professors Share Returns from Innovation with their Employers?
When a professor working at a university or college develops has an innovation that may lead to a new product or a new company, who should own the intellectual property? The professor? The university? Some mixture of the two?
- 1
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