LPE Originals

The Failure of Market Solutions and the Green New Deal – Pt 2

As I argued in Part I of this post, we need to rethink not only the scope of state intervention in the economy, but what exactly the economy is. Instead of focusing on the industrial manufacturing “inside” the economy and trying to clean up the externalities that inevitably spill out, we need an economic policy…

LPE Originals

The Failure of Market Solutions and the Green New Deal – Pt 1

For the three decades that climate change has been a political issue, it has been understood primarily as an instance of severe “market failure”: as the 2006 Stern Review on the Economics of Climate Change explains, “greenhouse gas emissions are externalities and represent the biggest market failure the world has seen.” In other words, carbon…

LPE Originals

Moving Environmental Politics Out of the Courts

On the campaign trail in 2016, Donald Trump took aim at Barack Obama’s signature climate change policy, the Clean Power Plan, as a “job-killing regulation.” Trump vowed to tackle regulations “on Day One.” By March 2017, he had signed an executive order directing EPA head Scott Pruitt to review the policy. But even before Trump…

LPE Originals

Understanding the Political Economy of Academia Through the Tax Bills

Paying for corporate tax cuts with revenue raised from grad students and universities sounds like a parody of a Republican tax bill. Unfortunately–like many seeming parodies these days–it was all too real. The tax bill that originally passed the House would have taxed both graduate student tuition waivers and university endowments above a certain level,…