Friday, July 17, 2009
Battling intellectual smog
California's AB 32 was intended (so they say) to help this state battle global warming by controlling greenhouse gases. That would alleviate problems that we have with physical world smog.
Unfortunately, there a those who still believe Any Rand and that regulation is evil and they produce an even more insidious intellectual smog. It is reported that a CSU-Sacramento Report estimates the "cost" to small businesses from California's AB 32 at $50,000 per year.
UCLA Economics professor, Matthew I Kahn, provide a good analysis of why they get it wrong.