The LPE Blog goes worldwide, bringing you some of our favorite global LPE and LPE-adjacent scholarship from 2024.
As the water level drops on Lake Powell, we have a chance to restore both the habitat of Glen Canyon and an earlier approach to public energy provision, when natural resources were shielded from capitalist exploitation and harnessed for the public good.
The rapidly worsening home insurance crisis is often understood as primarily a problem for insurers. Yet the overarching policy question should not be, “how do we save the home insurance industry from collapsing?” but rather, “what role should insurance markets play in the broader suite of policies to keep people safely housed?”
Of the estimated 350,000 chemicals now on the global market, only a handful have been properly tested. And as the looming crises with forever chemicals and micro-plastics make clear, we are only just beginning to grasp the enormous toll that these novel entities are taking on human health. How did our environmental law allow this to happen? And what can be done to correct it?
From the health care we receive to the services our cities provide, private insurers wield significant public power. Over the next few weeks, this symposium will examine the sweet actuarial science and its industries from a law and political economy perspective.
The Biden Administration’s recent foray into industrial policy relies heavily on voluntary inducements to push firms to invest in renewable energy technology and domestic manufacturing. Some observers argue that this approach, commonly known as “derisking,” will yield paltry results: firms will pursue the same priorities they would have absent the legislation, just with a better financial return. Yet subsidies do not only alleviate risk; they also impose a new risk of falling behind competitors, and so mold the landscape of profitability into a disciplinary force itself.
The Maui Wildfires devastated West Maui in August 2023, killing people and destroying homes. But far from being an inevitable natural disaster, the fires are a predictable byproduct of nineteenth century plantation capitalism. That system’s legacies, particularly its water management, weakened the island’s ecosystem and concentrated harm on the most vulnerable people.
Neoliberal welfare economics has constrained our moral and political imagination and, in so doing, limited our ability to realistically advance climate justice. This can be seen by considering two policy proposals that appear to fit comfortably within the standard climate economic paradigm, but that offer a wider scope of possibility than conventionally allowed.
The explosion of Indonesia’s nickel industry shows how demand for “green” technology by wealthy urbanites triggers resource raiding in the Global South.
Since the 1990s, mainstream economists have used past weather data to forecast the future costs of climate change. This mode of econometric prediction ignores the alarming tipping points and pervasive uncertainty that characterize our warming world.
Credit rating agencies like Moody’s have amassed vast datasets about scale and distribution of climate risk. The proprietary “expertise” derived from this data increasingly guides how both governments and financial institutions respond to the crisis.
The net zero paradigm disaggregates global emissions and allows each company to design an individualized plan. This atomized approach is not just amenable to manipulation – it frustrates the kind of collective action the crisis demands.
The IRA promises to pump billions of dollars into clean energy infrastructure, primarily though tax equity financing. This approach, despite its merits, all but guarantees that our clean energy future will be dominated by incumbent private actors, namely large financial institutions and private developers, who will capture the benefits of abundant low-cost renewable electricity.
The very idea of “offsetting” emissions requires the legal creation – and exploitation – of new sacrifice zones. Predictably, this approach has been a disaster for the environment. Less noticed, however, is the extent to which offsetting has warped the entire aim of environmental law.
How can a Law and Political Economy approach guide the power of taxation toward democracy, justice, and a livable planet? As a start, it can help us understand that tax policy involves not only the power to redistribute market earnings, but also the power to transform market governance.
