Environmental and Urban Economics

How much richer would the world be if we all agreed on who has property rights to everything on the planet?  If we could all (including those who are not yet born) sign a binding contract over such ownership, then there would be no need for armies or the police. There would be no violence.  If you want something that someone else owns, there would be a market price and you would make a decision to buy it or not. 

This economy would not feature rising GHG emissions because those who desire lower emissions would form a coalition to purchase this polluting energy source  and would "buy coal" (for details read this 2012 JPE).

The Los Angeles Times has published an interesting article focused on electricity tradeoffs.  To lower wildfire risk, the state's major electric utilities may choose to cutoff grid power access at certain risky times (such as when it is very hot and dry).   By cutting off grid access, the elderly and disabled face greater risks because their health and quality of life is directly tied to constant access to affordable electricity.

Dora and I are very proud of our son.