This essay is an exercise in long-run forecasting; it considers the development of economics over the next century. (It is one of several papers on this topic in a special issue of the Economic Journal.) The discussion is organized around the economics profession's internally-generated research...

Markets for Power provides an unusually complete analysis of the economic, technical, and institutional aspects of the electric utility industry. The authors evaluate four currently popular options for deregulating this unique segment of the economy, and in a balanced program for reform, they...

This paper summarizes recent empirical research on compliance costs and strategies and on permit market performance under the U.S. acid rain program, the first large-scale, long-term program to use tradeable emissions permits to control pollution. An efficient market for emissions permits...