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An environmental and natural resource economics blog by Adam Bailey (below). For details and profile see About.
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© Adam Bailey and Economic Droplets, 2012-2026.
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Author Archives: Adam Bailey
The Economics of Urban Rainwater
Lack of natural drainage in urban environments can lead to flooding and pollution. Economics can help find appropriate solutions. There is a furore in Maryland, USA, where many residents will soon have to pay a “stormwater management fee” based on … Continue reading
A Fallacy about Trade
What determines the production quantities and relative prices of internationally-traded goods? Some textbooks suggest a misleading answer. An old textbook I have on my shelves (Wells 1969 (1)) has a diagram similar to Diagram 1 below, showing the production possibility … Continue reading
Posted in Trade
Tagged free trade price ratio, offer curve, production possibility frontier
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Lessons from the Industrial Revolution
The economics of energy in the 18th century offers lessons for the present. I recently read Robert Allen’s The British Industrial Revolution in Global Perspective (1), a fascinating analysis of why the industrial revolution happened, why it happened in Britain, … Continue reading
Posted in Energy
Tagged energy efficiency, energy saving, industrial revolution, renewable energy, Robert Allen, space saving
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Some Economics of a Carbon Tax
A carbon tax can be an effective policy for reducing emissions. It also affects output and social welfare. Like many economists I am fond of diagrams. I feel I understand a piece of economics when I see it expressed in … Continue reading
