Monday, September 03, 2012

An Earthquake in Beverly Hills and Drought in India

I woke up at 325am this morning because my house was shaking.  I said to my wife; "earthquake" and she told me that she had already figured that out.   Later this morning, I learned that the epi-center of the quake was in Beverly Hills. It immediately crossed my mind that the Subway to the Sea must have caused this event.  What else could rock Beverly Hills?

Switching subjects, the NY Times reminds us that farmers are suffering from too little rain in India.  As usual, the article doesn't bother to discuss water pricing and wasted water in India but more serious scholars have pointed out the major inefficiencies that exist with regards to India's water markets.  In Climatopolis, I argue that a silver lining of climate change is that nations all over the world will more efficiently allocate scarce resources because the cost of keeping silly inefficient policies will rise.   Allowing for more free markets is a major adaptation strategy but the environmental reporters who work for the Times have forgotten their micro economics.