regulatory economics
Does Deregulation Hypercharge the Economy?
If the economics effects are that huge, you’d expect the unemployment rate reflect major regulatory or deregulatory moves. It doesn’t.
EPA’s head sats that “EPA will be reconsidering many suffocating rules that restrict nearly every sector of our economy and cost Americans trillions of dollars.” If regulation and deregulation are that big a deal economically, we should clearly see their imprint on unemployment. It turns out that even the biggest regulatory and most dramatic deregulatory actions have no discernible effect on the job market.
CONTINUE READINGThe Zombie Myth of Job-Killing Regulations
Some ideas never die, no matter how much evidence piles up against them.
With the Labor Day weekend coming up, let’s talk about jobs. Some myths are like zombies in two ways. They refuse to lie down and die, not matter what you do. And if you aren’t careful, they can eat your brain. An example is the idea that environmental regulation kills jobs. Tragically, this brain worm …
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CONTINUE READINGThe Renaissance of Energy Law
An esoteric field of law has become exciting and important.
Energy law used to be an obscure niche subject. It was devoted to subjects like oil and gas leases, the proper inflation adjustments in utility rates, and depreciation schedules for power plants. Utilities were famously set in their ways, using nineteenth century technologies to produce and deliver their products. Only specialists really paid much attention. …
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CONTINUE READINGSherlock Holmes and the Mystery of the Job-Killing Regulations
In which Holmes confronts his strangest and most perplexing case.
[I’m re-upping this 2014 post since the “job-killing regulation” meme has resurfaced at the GOP Convention. The scene is Holmes’s apartment at 221B Baker Street.] “When the prospective client arrives, Watson, you’ll find that he’s a politician, that his electoral base is devoted to Fox News, and that he gets campaign contributions from fossil fuel …
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CONTINUE READINGThe Kudlow Inversion
Trump’s key advisor on the economy, the coronavirus, and regulation, with a gift for getting everything wrong.
“Only the best people,” Trump said. Let’s talk about his chief economic advisor, Larry Kudlow. Kudlow seems to live in an inverted, upside-down world. He somehow manages to be wrong about everything — wrong about the economy, wrong about deregulation, wrong about climate change, wrong about the coronavirus. A full sweep, in other words. It’s …
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CONTINUE READINGWill Deregulation Grow the Economy?
The Trump plan of deregulation and tax cuts has been tried. It didn’t work.
President-elect Trump has promised to unleash economic growth by cutting taxes and regulation. In terms of regulations, he has said: “One of the keys to unlocking growth is scaling-back years of disastrous regulations unilaterally imposed by our out-of-control bureaucracy. “Regulations have grown into a massive, job-killing industry – and the regulation industry is one business …
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CONTINUE READINGThe Clean Power Plan — Low Cost, High Benefits
Despite claims by industry and conservatives, the CPP’s costs are completely manageable.
The Supreme Court’s stay of EPA’s Clean Power Plan was a surprise, and a questionable action on many grounds. It now seems clear that the stay — along with much of the political fuss about the CPP — was based on very questionable economics. In terms of the stay, a team of economists at Resources …
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