Wealth and Welfare, (almost) centenary edition

Hasn’t John Tierney ever read Pigou?

Eric Posner, a smart libertarian, takes John Tierney, a dumb libertarian, to school. If I were a smart libertarian, I’d be angry at the New York Times for handing Tierney the big megaphone.

Is it really too much to ask that a columnist who writes about economics for a major newspaper be familiar with standard tools of economic analysis, such as the theory of external cost?

Author: Mark Kleiman

Professor of Public Policy at the NYU Marron Institute for Urban Management and editor of the Journal of Drug Policy Analysis. Teaches about the methods of policy analysis about drug abuse control and crime control policy, working out the implications of two principles: that swift and certain sanctions don't have to be severe to be effective, and that well-designed threats usually don't have to be carried out. Books: Drugs and Drug Policy: What Everyone Needs to Know (with Jonathan Caulkins and Angela Hawken) When Brute Force Fails: How to Have Less Crime and Less Punishment (Princeton, 2009; named one of the "books of the year" by The Economist Against Excess: Drug Policy for Results (Basic, 1993) Marijuana: Costs of Abuse, Costs of Control (Greenwood, 1989) UCLA Homepage Curriculum Vitae Contact: Markarkleiman-at-gmail.com