Young Economics.

Interesting Links: The Global Warming Edition

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Here are things that I found interesting, some of which have to do with the environment.

  • George Monbiot doesn’t like the Waxman-Markey climate change bill.  Quoth he: “It would be laughable anywhere else.”
  • While the US passes Waxman-Markey, the Australian parliament is apparently shooting down their own climate change legislation.  According to The Wall Street Journal, this is because “the number of skeptics is swelling everywhere.”  Is it reasonable to expect average voters to be able to form a sound opinion on this matter?
  • Gilbert E. Metcalf says: Use carbon pricing, not technology subsidies.  I agree.
  • Brad DeLong builds the simplest possible behavioural finance bubble model.
  • In this new paper, Telyukova and Visschers try to address the problem of precautionary money demand in a monetary macro model.   In their model, consumers are subject to idiosyncratic risk (modeled as shocks to their utility functions) that requires them to hold money as a precaution.  The matter of precautionary money demand is empirically important, and it plays a major role in the Keynesian understanding of the business cycle that has recently come back into fashion.  Still, this model (if I understood it correctly during my quick read-through) assumes that the distribution of the preference shocks is known.  This is quite different from the Keynesian understanding of ‘fundamental uncertainty.’  Post-Keynesian economists would deny that people have information about the distribution of future shocks.
  • Libertarian feminist Wendy McElroy writes on the ‘fetal rights’ approach to the abortion debate: “Basically, anti-abortionists pit the woman’s rights against the alleged rights of the fetus, and give the latter priority.” She lists nine implications of anti-abortion arguments that the anti-abortion crowd apparently doesn’t like to acknowledge.  I don’t agree with them all because I am not a natural rights libertarian.  Will the abortion issue ever cease to be controversial?  Should it?  Here is an interesting discussion about how the Obama administration should approach the issue.
  • New reports from the OECD, the FAO, and the World Bank say: Africa alone could feed the world.  “Some 1.6 billion hectares could be added to the current 1.4 billion hectares of crop land [in the world], and over half of the additionally available land is found in Africa and Latin America.”  Commenters think that the reports probably ignore energy and environmental issues.
  • Michael Jackson is still dead.  How does it feel?  (How does it feel?)
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Written by Alex

June 27, 2009 at 6:30 pm

Posted in Uncategorized

Tagged with , ,

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