By Diego Zuluaga One of the few but crucial advantages that economists have over the noninitiated in attempting to navigate the world is the recognition that the optimal amount of a ‘bad’ – such as pollution, crime, and obnoxious advertising – is rarely zero. This is at first a shocking statement – how could one … Continue reading Sadly, economic thinking is still marginal
J. R. Hicks: Lizard Monsters, Twix Bars, and Welfare Economics
The government’s radical changeover has come with some controversial changes. One of these is reducing the powers of the EPA, which some argue will be detrimental to our environment. More and more headlines fly across the screen, from the praising of the coal industry by EPA director to a call to exit from international climate … Continue reading J. R. Hicks: Lizard Monsters, Twix Bars, and Welfare Economics