Political Equilibrium and the provision of public goods

This paper treats interest groups – people in their role as consumers of a public good and people in their role as taxpayers – as the unit of account for representative voting. Each group is allowed to make an effort to support its preferred candidate and, at the margin, the effort-benefit ratio is the political price the group is willing to pay to secure an additional dollar of benefits.

Pursue Happiness, Vote GOP

If the Democratic Party allows itself to be defined by Ted Kennedy, Michael Moore and the editorial page of the New York Times, while Republicans, their president and their strengthened congressional majorities encourage the pursuit of happiness in an opportunity and ownership society, then Mr. and Mrs. America will make sure conservatives are in power for a great many years to come.

Regulating Greenhouse Gas Emissions

The 1997 Kyoto Protocol is an international treaty designed to reduce greenhouse gas emissions. Proponents hoped that it would help the world avoid catastrophe caused by human induced climate change. However, Kyoto faced long odds of ever coming into effect in the United States.