environmental economics
Taking A Data-Driven Tour of Air Pollution Law
After Half a Century, What Do We Really Know about the Impacts of the Clean Air Act?
Earlier this year, a team of economists published a retrospective paper on the Clean Air Act. It surveys the economic literature to find out what the data tells us about emission trading systems, the effects of pollutants, and effects of imposing tougher regulatory requirements in areas that failed to meet national air quality standards. Some …
Continue reading “Taking A Data-Driven Tour of Air Pollution Law”
CONTINUE READINGUnquantified Benefits
How can the government account for benefits that it can’t measure?
Like it or not, quantitative cost-benefit analysis has been a key part of the regulatory process for forty years and seem likely to stay that way. Yet even economists admit that they don’t (yet) know how to put numbers on the value of some important regulatory benefits. But how can those qualitative assessments be combined …
Continue reading “Unquantified Benefits”
CONTINUE READINGEveryday Christmas: The Gift of the Commons
Clean air. Clean water. We receive these public goods every day without payment
One of the Christmas classics is the Jimmy Stewart movie, It’s a Wonderful Life. George Bailey, Stewart’s character, is despondent about his life but then learns how much he has unknowingly helped others and how grateful they are. It’s heartwarming, if also a bit corny. There’s a flip side to that story: the need to remember …
Continue reading “Everyday Christmas: The Gift of the Commons”
CONTINUE READINGCost-Benefit Analysis: FAQs
Cost-benefit analysis has been a key part of the regulatory process since 1980. Here’s how it works.
Cost-benefit analysis is required for all major regulations. It’s also highly controversial, as well as being a mysterious procedure unless you’re an economist. These FAQs will tell you what you need to know about how cost-benefit analysis (CBA) fits into the regulatory process, how it works, and why it’s controversial. Q: Let’s start with a …
Continue reading “Cost-Benefit Analysis: FAQs”
CONTINUE READINGCost-Benefit Analysis and the Biden EPA
The recent rescission of a Trump rule hints at how the Biden Administration views the role of cost-benefit analysis.
In its closing days, the Trump Administration issued a rule designed to tilt EPA’s cost-benefit analysis of air pollution regulations in favor of industry. Last week, EPA rescinded the rule. The rescission was no surprise, given that the criticisms of the Trump rule by economists as well as environmentalists. EPA’s explanation for the rescission was …
Continue reading “Cost-Benefit Analysis and the Biden EPA”
CONTINUE READINGRecalculating the Cost of Climate Change
The Biden Administration has already started to revisit this important issue.
“The social cost of carbon” isn’t exactly a household phrase. It’s an estimate of the harm caused by emitting a ton of CO2 over the many decades it remains in the atmosphere. That’s an important factor in calculating the costs and benefits of climate regulations. For an arcane concept, it has certainly caused a lot …
Continue reading “Recalculating the Cost of Climate Change”
CONTINUE READINGWe Need an Environmental Dr. Fauci
Much of environmental law is about protecting public health. But the Trump Administration won’t listen.
During the coronavirus crisis, Dr. Anthony Fauci has become the voice of reason. Much of the public turns to him for critical information about public health, while even Trump finds it necessary to listen. In the Trump era, no one plays that role in the environmental area. The result is a mindless campaign of deregulation …
Continue reading “We Need an Environmental Dr. Fauci”
CONTINUE READINGThe Flight From Evidence-Based Regulation
This Administration specializes in arguments for ignoring the evidence.
The Trump Administration’s major deregulatory efforts share a common theme. They assiduously avoid having to rely on scientific or economic evidence. Confronting that evidence is time-consuming and difficult, particularly when it often comes out the other way. Instead, the Administration has come up with clever strategies to shut out the evidence. The effort to repeal …
Continue reading “The Flight From Evidence-Based Regulation”
CONTINUE READINGFrom the Grand Canyon to Contaminated Cantaloupes – and More
Five books with fresh perspectives on environmental issues.
Law reviews make little effort to track new books, unlike other journals in other disciplines . So it’s pretty much hit-or-miss whether you learn about relevant new books. I wanted to share some interesting finds that have crossed my desk, joined a growing pile of unread books, and then slowly left the pile. The subjects …
Continue reading “From the Grand Canyon to Contaminated Cantaloupes – and More”
CONTINUE READINGPricing Carbon: What Does It Actually Accomplish?
Pricing carbon may not work the way economists thought.
In theory, pricing carbon should incentivize emissions reductions. In reality, it is unclear to what extent that takes place unless the carbon price is very high. This is not to say that pricing carbon is useless, but the main benefits may take different forms. Basically, there are two ways of putting a price on carbon. …
Continue reading “Pricing Carbon: What Does It Actually Accomplish?”
CONTINUE READINGJoin Our Mailing List
Climate policy is changing rapidly. Stay in the loop with expert analysis via email Monday - Friday.
