Economics @ ITT

Supreme Court Rules That Clean Air Is Too Expensive

Posted in economics, environment, externalities by ittecon on June 29, 2015

Ain’t that a crock…

The Supreme Court voted Monday that the EPA cannot stop power plants from releasing hazardous chemicals without first proving that the clean air is worth more than the companies would have to spend to stop polluting.

via Supreme Court Rules That Clean Air Is Too Expensive.

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Noam Chomsky on Anarcho-Syndicalism

Posted in Uncategorized by ittecon on May 29, 2013

NOAM CHOMSKY:  Well, anarchism is, in my view, basically a kind of tendency in human thought which shows up in different forms in different circumstances, and has some leading characteristics.  Primarily it is a tendency that is suspicious and skeptical of domination, authority, and hierarchy.  It seeks structures of hierarchy and domination in human life over the whole range, extending from, say, patriarchal families to, say, imperial systems, and it asks whether those systems are justified.  It assumes that the burden of proof for anyone in a position of power and authority lies on them.  Their authority is not self-justifying.  They have to give a reason for it, a justification.  And if they can’t justify that authority and power and control, which is the usual case, then the authority ought to be dismantled and replaced by something more free and just.  And, as I understand it, anarchy is just that tendency.  It takes different forms at different times.

via NOAM CHOMSKY — ‘Everyday Anarchist’: The Modern Success Interview | Modern Success.

What If We Never Run Out of Oil?

Posted in economics, environment by ittecon on May 6, 2013

[B]urning [methane hydrate] produces carbon dioxide. Researchers view it as a temporary “bridge fuel,” something that can power nations while they make the transition away from oil and coal. But if societies do not take advantage of that bridge to enact anti-carbon policies, says Michael Levi, the director of the Program on Energy Security and Climate Change at the Council on Foreign Relations, natural gas could be “a bridge from the coal-fired past to the coal-fired future.”

via What If We Never Run Out of Oil? | Mother Jones.

Want to fight climate change? Get rid of $1.9 trillion in energy subsidies.

Posted in economics, environment by ittecon on March 30, 2013

What’s the simplest way to tackle global warming? Make sure that fossil fuels are priced properly and not subsidized. Is it really that easy? That’s the core idea behind a large new report from the International Monetary Fund, which argues that the world “misprices” fossil fuels to the tune of some $1.9 trillion per year.

via IMF: Want to fight climate change? Get rid of $1.9 trillion in energy subsidies..

Joseph Stiglitz: Innovation should focus on quality of life, not just productivity

Posted in economics, employment, environment, externalities, Policy Issues, Regulation by ittecon on March 16, 2013

“We have a lot of unemployment and yet firms are investing in machines to replace unskilled workers,” he said. “Do we want to create more unemployment of unskilled workers? No. We want to focus our innovation on saving our planet, resources, the environment and the quality of life.”

via Joseph Stiglitz: Innovation should focus on quality of life, not just productivity | Bangkok Post: business.

“From Resource Curse to Blessing” by Joseph E. Stiglitz

Posted in economics, International Economics, Taxation, Trade by ittecon on August 6, 2012

On average, resource-rich countries have done even more poorly than countries without resources. They have grown more slowly, and with greater inequality – just the opposite of what one would expect.

via “From Resource Curse to Blessing” by Joseph E. Stiglitz | Project Syndicate.

Black Lung Surges Back in Coal Country

Posted in economics, environment by ittecon on July 10, 2012

A Center analysis of databases maintained by the federal Mine Safety and Health Administration found that miners have been breathing too much dust for years, but MSHA has issued relatively few violations and routinely allowed companies extra time to fix problems.

via Black lung surges back in coal country | iWatch News by The Center for Public Integrity.

Monopoly power in action

Posted in antitrust, economics, environment, externalities, Policy Issues by ittecon on May 16, 2012

90 Percent of Corn Seeds Are Coated With Bayer’s Bee-Decimating Pesticide

90 Percent of Corn Seeds Are Coated With Bayers Bee-Decimating Pesticide | Mother Jones.

Regulators’ ruling means Chicago can keep getting air pollution funds

Posted in economics, environment by ittecon on February 2, 2012
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Americans say save the economy, not the planet

Posted in economics, environment by ittecon on March 22, 2011

The Great Recession appears to have had a big – and negative – impact on Americans’ sympathy for Mother Earth.

Read:  Americans say save the economy, not the planet.