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Pethokoukis, Economics, Regulation

How to keep government from stalling the driverless car

Given that (a) driving errors and accidents cost $300 billion and 34,000 lives a year, and (b) traffic congestion caused drivers to spend an extra 5.5 billion hours on the road and purchase an extra $121 billion gallons of fuel … well, you could say driverless cars could potentially be a pretty big deal. That, if the government doesn’t put a regulatory hammerlock on this emerging technology. read more >

Economics, Energy and the Environment, Pethokoukis

The tiny little problem with carbon taxes

Economists frequently offers carbon taxes as a market-friendly policy for dealing with climate change. It’s pretty simple: tax what you don’t want (or as an economist would put, tax unwanted externalities.) And if you want less fossil fuel consumption and the carbon emissions that go with it, make coal, oil and natural gas more expensive with a levy. But there is a slight– I feel embarrassed even to mention it — problem with carbon taxes, according to Jesse Jenkins of the Breakthrough Institute. read more >