25 Apr 2025
by Jim Rose
in applied price theory, applied welfare economics, comparative institutional analysis, economics of bureaucracy, economics of regulation, health economics, politics - USA, Public Choice
Tags: economics of pandemics
My latest paper, Pandemic Preparation Without Romance, has just appeared at Public Choice. Abstract: The COVID-19 pandemic, despite its unprecedented scale, mirrored previous disasters in its predictable missteps in preparedness and response. Rather than blaming individual actors or assuming better leadership would have prevented disaster, I examine how standard political incentives—myopic voters, bureaucratic gridlock, and […]
Pandemic Preparation Without Romance
24 Apr 2025
by Jim Rose
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, econometerics, history of economic thought, industrial organisation, labour economics, labour supply, politics - USA, unemployment
Tags: 2024 presidential election, free trade, tariffs, unintended consequences
This short note shows that accounting for capital adjustment is critical when analyzing the long-run effects of trade wars on real wages and consumption. The reason is that trade wars increase the relative price between investment goods and labor by taxing imported investment goods and their inputs. This price shift depresses capital demand, shrinks the […]
Long-Run Effects of Trade Wars
22 Apr 2025
by Jim Rose
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, economic history, history of economic thought, industrial organisation, international economic law, international economics, labour economics, politics - USA, unemployment
Tags: 2024 presidential election, free trade, tariffs
This occurred in Knoxville, you can watch it here. Lots of fun, and p.s. I am more of a free trader than he is. We did have some disagreements.
My debate with Dani Rodrik about tariffs and free trade
22 Apr 2025
by Jim Rose
in economics of bureaucracy, economics of climate change, economics of regulation, energy economics, environmental economics, environmentalism, global warming, industrial organisation, law and economics, liberalism, Marxist economics, politics - USA, property rights, Public Choice, survivor principle
Tags: California, climate activists, regressive left
California’s refining capacity is collapsing—not because demand has disappeared, but because it is being deliberately dismantled by regulatory fiat. The recent announcement that Valero Energy will idle or shutter its Benicia refinery by 2026 isn’t just a business decision. It’s the calculated result of a hostile policy environment designed to punish traditional energy producers until they either leave the state or fall into government hands.
From Refineries to Fiefdoms: Is Newsom Orchestrating a State Takeover of California’s Oil Industry?
20 Apr 2025
by Jim Rose
in applied price theory, economic history, history of economic thought, industrial organisation, international economic law, international economics, liberalism, libertarianism, politics - USA, Public Choice, rentseeking
Tags: free trade, tariffs
TweetWhen President Ronald Reagan delivered this address in November 1982, I was a 24-year-old graduate student. Radically libertarian at that point for almost six years, I was sufficiently astute enough to know that Reagan wasn’t terrible on most of the issues that I cared about, but I was nevertheless insufficiently mature and astute enough to…
Ronald Reagan in 1982 on Free Trade
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