Gary Johnson recently started talking about supporting a CO2 fee, although he even more recently took it back. Of course when he first supported it I called him out on social media, but some of my less economically literate friends insisted it might be a good idea. Specifically I was asked whether companies would voluntarily … Read more Would Companies Voluntarily Go Green?
This article anecdotally rants about how libertarians, economists, and others pay lots of attention to utilitarian efficiency and very little to technical efficiency. Refresher: Technical efficiency means that a given level of output is produced using the least-cost set of inputs. Economics has strong evidence for the astonishing claim that competitive economies will produce with … Read more Technical Efficiency is So Underrated
This article discusses some of the properties of a good question or research project. Consider a group of research activities. They are expected to have a variety of costs and benefits. From economics we can generally assert that the quantity of research effort should be increased until the marginal benefit equals the marginal cost. In … Read more 4 Factors of Question Quality