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Property Rules And Liability Rules: The Cathedral In Another Light, James Krier, Stewart Schwab
Property Rules And Liability Rules: The Cathedral In Another Light, James Krier, Stewart Schwab
Stewart J Schwab
Ronald Coase's essay on "The Problem of Social Cost" introduced the world to transaction costs, and the introduction laid the foundation for an ongoing cottage industry in law and economics. And of all the law-and-economics scholarship built on Coase's insights, perhaps the most widely known and influential contribution has been Calabresi and Melamed's discussion of what they called "property rules" and "liability rules."' Those rules and the methodology behind them are our subjects here. We have a number of objectives, the most basic of which is to provide a much needed primer for those students, scholars, and lawyers who are …
Controlling Power Plants: The Co-Pollutant Implications Of Epa's Clean Air Act § 111(D) Options For Greenhouse Gases, Alice Kaswan
Controlling Power Plants: The Co-Pollutant Implications Of Epa's Clean Air Act § 111(D) Options For Greenhouse Gases, Alice Kaswan
Alice Kaswan
Existing power plants are the nation’s largest single source of carbon emissions. In the absence of comprehensive federal climate change, EPA is forging ahead with power plant controls through § 111(d) of the Clean Air Act. This article focuses on one critical consideration: the ancillary impacts of carbon controls on associated co-pollutants, like sulfur oxides, particulates, nitrogen oxides, and mercury. The article focuses on an array of regulatory options, including both “inside-the-fence” reductions at power plants and “outside-the-fence” measures that reduce power sector emissions, like renewable energy and consumer energy efficiency. The article then evaluates the co-pollutant consequences of several …