Economists Are Cheapskates
On the eve of the annual meeting of the American Economic Association, Justin Lahart writes in the Wall Street Journal about how economists are cheapskates. Read More »
In Defense of GDP
My recent Marketplace commentary focused on the recent Sarkozy Commission report, which re-examined the usefulness of the usual economic indicators, like Gross Domestic Product (or GDP).
The report raises many of the usual shortcomings of GDP. And I agree with each of their criticisms. Much of this was summarized 40 years ago, in a famous Bobby Kennedy speech: Read More »
The Checklist Manifesto
If there is one topic that I have no natural affinity for, it is checklists. I don’t use checklists. I’m not interested in checklists.
Yet, against all odds, I read Atul Gawande’s new book about checklists, The Checklist Manifesto in one sitting yesterday, which is an amazing tribute to the book that Gawande has crafted. Not only is the book loaded with fascinated stories, but it honestly changed the way I think about the world. It is the best book I’ve read in ages. Read More »
From Cap and Trade to Carbon Farming
There’s really no need to panic over the prospect of EPA dominance. Instead, industry should take the hint that’s it high time to push hard for climate-change legislation. Sure, the move by the EPA to exercise regulatory authority over carbon — a power granted to it by a 2007 Supreme Court ruling — was designed to give President Obama moral leverage in Denmark. But it also serves as a presidential prod to Congress to pass a climate-change law. No matter how you feel about global warming, greenhouse-gas emissions are not going to go unregulated. I suspect Obama ultimately nudged the EPA because he wants the U.S. Congress to do the regulating. Industry should support him on this. Read More »
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