Guest Post by Willis Eschenbach
I’ve been discussing cost-benefit analyses lately. The AP has the story of a Federal judge who has just made a most excellent and far-reaching ruling regarding EPA cost-benefit analyses. He said that the EPA has to include the cost of lost jobs in the economic part of the cost-benefit analysis of their proposed coal regulations.
Now, I was shocked, but not surprised, to find out that the EPA did not include such an obvious cost in their analysis. It highlights the problem I’ve pointed out with these speculative looks at the future—the choice of what to include is quite broad, and subject to political winds.
But not including lost jobs? Man, that’s just heartless. Makes me wonder if lost jobs are included in the so-called “Social Cost of Carbon” … but I digress.
So the backstory is, the Federal judge had said that the…
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