Economic models of climate change often take the problem seriously, but paradoxically conclude that the optimal policy is to do almost nothing about it. We explore this paradox as seen in the widely used DICE model. Three aspects of that model, involving the discount rate, the assumed benefits...

Since the passage of the 1996 Farm Bill, the U.S. market prices of soybeans and corn have dropped 21% and 32%, respectively. These commodities are now sold on the market at a price below what they cost to produce. If U.S. agricultural policies contribute to the prevalence of below-cost soybeans...

This paper examines the contemporary politics of intellectual property (IP) and investment in the World Trade Organization (WTO). I examine the underlying and perennial conflicts that pit developing and developed countries against each other in these two areas and the nature of the two...

This paper analyzes the politics of intellectual property (IP) and public health in Brazil and Mexico. Both countries introduced pharmaceutical patents in the 1990s, to comply with their international obligations. Indeed, both countries’ IP systems were markedly similar in being favorable to...

The challenge of reducing global carbon emissions by 50-85 per cent by the year 2050, which is suggested by the Intergovernmental Panel on Climate Change (2007a) as a target compatible with limiting the risk of a more-than-2ºC temperature increase, clearly conflicts with existing patterns of...

In a recent article in this journal, Francesco Bosello, Roberto Roson, and Richard Tol make the surprising prediction that the first stages of global warming will, on balance, save a large number of lives. Bosello et al. fail to substantiate this remarkable estimate, and they make multiple...

A number of recent discussions about ethical issues in climate change, as engaged in by economists, have focused on the value of the parameter representing the rate of time preference within models of optimal growth. This essay examines many economists’ antipathy to serious discussion of...