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Posts from December 0

Eighty-Eight to Congress: 'Let the Wind PTC Expire!' (challenging Big Wind, Big Government, and Big Environmentalism)

By Robert Bradley Jr. -- November 14, 2012

“The PTC was created in 1992 to get the wind industry off the ground. Yet 20 years later, we have little to show for it.”

When it comes to rent-seeking by business, Concentrated Benefits + Diffused Costs = Government Growth.

In “Regulatory Failure by the Numbers,” a simple hypothetical was given:

“While the benefits of a regulation may be enjoyed by a relative few, the costs are often spread out among many. If the per person cost of a regulation is only a dollar or two, no one has a financial incentive to travel to Washington to lobby against it.”

Economists in the 19th century understood the problem created by this incentive asymmetry, and Michael Giberson found this in a 1935 book explaining the passage of the  Smoot-Hawley Tariff:

“Although .