Law and Economics Commons^™

Take It To The Limit: The Illegal Regulation Prohibiting The Take Of Any Threatened Species Under The Endangered Species Act, Jonathan Wood

Jonathan Wood

The Endangered Species Act forbids the “take” – any activity that adversely affects – any member of an endangered species, but only endangered species. The statute also provides for the listing of threatened species, i.e. species that may become endangered, but protects them only by requiring agencies to consider the impacts of their projects on them. Shortly after the statute was adopted, the U.S. Fish and Wildlife Service and National Marine Fisheries Service reversed Congress’ policy choice by adopting a regulation that forbids the take of any threatened species. The regulation is not authorized by the Endangered Species Act, but …

Curb Your Enthusiasm For Pigouvian Taxes, Victor Fleischer

Victor Fleischer

Pigouvian (or "corrective") taxes have been proposed or enacted on dozens of products and activities that may be harmful in excess: carbon, gasoline, fat, sugar, guns, cigarettes, alcohol, traffic, zoning, executive pay, and financial transactions, among others. Academics of all political stripes are mystified by the public’s inability to see the merits of using Pigouvian taxes more frequently to address serious social harms.

This enthusiasm for Pigouvian taxes should be tempered. A Pigouvian tax is easy to design—as a uniform excise tax—if one assumes that each individual causes the same amount of harm with each incremental increase in activity on …

North Dakota Expertise: A Chance To Lead In Economically And Environmentally Sustainable Hydraulic Fracturing, Joshua P. Fershee

Joshua P Fershee

North Dakota is uniquely, and largely favorably, situated to benefit from hydraulic fracturing, and has already reaped many such benefits. During the recent economic crisis, North Dakota’s housing market has been stable, unemployment has been remarkably low, and the state has maintained a strong and increasing budget surplus at a time when many states were operating budget deficits. But these benefits have not come without some costs.

This Article seeks to put the current North Dakota oil boom in context and help provide a path for developing legislative and regulatory policies that prolong and reinforce sustainable and beneficial oil development. …