Way to go John!!

We all know that John Whitehead is the straw that stirs that Mountaineer drink. Congrats to ASU.

One Last Chance

If you have not had a chance to comment yet this semester - here is one last opportunity - more evidence on a warming planet.

Please take a moment to read this and leave a thoughtful comment.

Jim

p.s. - we will have a review session today, Thursday, and again next Tuesday in preparation for the Exam next Thursday.

T. Gift does it again!

Nice work Tom. Here is a short piece on the merits of a gas tax.

Local Water Issues

Here are the readings for the rest of the semester. Ignore whatever we have on the syllabus and be sure to read each of these carefully.

DEVELOPMENT AND WATER QUALITY

SEWAGE SPILLS

WADING IN WASTE

NITROGEN AND PHOSPHORUS

LOCAL NEWS

MARINE BIOTECHNOLOGY


see you this afternoon.

Is that the mayor with Jim Casey????

Yes, that's right, The Green General and the Mayor of Wilmington NC. We were participating in a "press conference" supporting the development of alternative energy technologies in New Hanover County. Wind, Wind, and More Wind.....

Reading for next week

Please be sure to check the syllabus for the new readings for next week.

Jim

Ethanol Schmethanol

Although the title of this post would lead you to believe that I am only going to address Ethanol in my talk today - that is not the case. I want to provide a framework and some numbers for thinking about the environmental trade-offs associated with different ways of producing biofuels. In the end, however, its - ethanol schmethanol. I did a back of the envelope calculation for the cost of removing one ton of CO2 by subsidizing corn ethanol in the US and it is costing taxpayers about $500 per ton of mitigated emissions of CO2.

AUTISM RIBBON RUN 5K

This is me and Zach after the race yesterday. I finished 243rd out of almost 900. Not bad for an old man. More importantly I got to spend time with family and raise money for autism research. Obviously, its never too late to donate.


Tune in tomorrow for the premier of Ethanol Schmethanol.

Ethanol, schmethanol - The Economist, schmomonimist

I am heading back to Lexington, VA next week to speak at the COVES conference (Commonwealth of Virginia Energy and Sustainability). I have been asked to speak about Ethanol and its potential environmental externalities. The tentative title for my talk was Ethanol, schmethanol, but I was concerned this would be a little cavalier of me - then it happened. I opened up the latest issue of the Economist this evening and sure enough an article on biofuels titled Ethanol, schmethanol. Well, I am still using the title - so there you have it - Economist, schmomonimist!! Stay tuned for a sneak peak at my presentation.

Updated Syllabus Again

Here is the latest version. Great conversation yesterday, not what we had planned, but sometimes the best laid plans...... Have a great Fall break.

Jim

Prof. Whitehead's Favorite Quiz Question

See if you can identify the mistake in the following passage from The Economist.

"At the same time high prices are bound to constrain demand, and unpredictable economic growth and Middle Eastern politics make the future of both demand and supply uncertain."

Hint: exogenous vs. endogenous.

Sustainability Tuesday

Please check the syllabus for two new articles. One is a short comment by Bob Solow on Sustainability and the other is article is from RFF. Here is a link to the updated syllabus.

Also, notice we do not have class this coming Thursday - I will be at NC State attending a climate economics workshop.

Why do we treat natural resources the way we do?

Maybe there are some clues here.

Fascinating work and even more insights into that whole conservative liberal thing....

Field Research II

Olivia and I went swimming in Banks Channel yesterday afternoon. We saw 6 dolphins swimming in the channel and then they headed out to sea through Masonboro Inlet.

Why Lead in Toy Paint?

The answer is: it's cheaper. But is it? According to this article paint with high levels of lead sell for 1/3 the price of their lead-less counterparts. So, firms in China buy leaded paint to lower costs and maximize profits - wouldn't Uncle Milton be proud. Are the firms in China bearing all the costs or are there potential market failures here? Let me know what you think?

How should we teach Coase??

I thought it might be helpful to see how others struggle with teaching Coase. Here are some thoughts from Tim Habb.

See you tomorrow.

Field Research during my Sabattical

Part of my time away from W&L will be spent doing field research. Since my primary field of interest these days is Marine Resource Recreation Valuation, it is important for me to recreate. Tonight we (the research team consists of Catarina, Olivia, and Lisa) went to a sea turtle excavation. It was really beautiful to see those little dudes heading for the great big sea. Yesterday, our research yielded an intact sand dollar and a good size crab caught with a chunk of mullett.

I Knew it!!!

I want to learn about this study, but in the meantime here is an interesting article on the difference between conservatives' brains and those of a liberal bent...

What Can I do with a Degree in Economics?

Students are fond of asking that question and often the response is something 'blase' like go to Law School, be a consultant, go to business school, or work for an NGO. One of my former students works for AEI in Washington and from now on, when students ask me, "what can I do with a degree in Economics" my response will be "read this."

Nice work Tom!!!

Next Week...

Next week we will finish chapter 2 and read The Tragedy of the Commons.

Garrett Hardin published this piece in 1968 and for any current student of resource economics it is just as relevant today as it was 39 years ago - maybe even more so today.

Nice class today - I am enjoying the level of participation.

Peace