In a February 16th posting on the Resources for the Future blog, Burtraw and Fischer summarize key aspects of the Mistra Carbon Exit Swedish research project. This posting emphasizes three key observations in the report and then indicates why the US is unlikely to adopt the Swedish approach. To put the Swedish project in context, … More Will the US Follow Sweden’s Approach to Zero Carbon Emissions?
In Capitalism, Socialism, and Democracy (1942), Joseph Schumpeter argued that economies grow through a process of creative destruction; that is, new ideas, products, and services drive out old versions since they offer better value. Schumpeter characterized capitalism as founded on such a process, but he concluded this book with the argument that eventually the process … More The Power of Creative Destruction
Recently, I posted an expanded version of my Fresh Take interview. In that piece, I focused on various facets of inflation, but did not address the role of monetary forces. On November 23rd, two prominent economists – Paul Krugman and Raghuram Rajan – provided contrasting views of how the Federal Reserve Bank (FED) should respond … More Inflation and Monetary Policy