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  • economic models

    What Scientific Method?

    The White House Council of Economic Advisers (CEA) has released a projection of jobs created by the economic stimulus bill. However, the method they used to get these numbers falls short of basic scientific standards. The CEA modeled a potential outcome for the economy without the stimulus, basing it on historical data. They then compared this computer simulation with the actual data about what occurred with the stimulus – and have declared that the stimulus worked. This method would be met with a failing grade in any decent university economics … More

    EPA’s Flawed Cap and Trade Analysis

    Today the National Black Chamber of Commerce (NBCC) released a new study that predicts devastating economic impacts of Waxman-Markey’s cap and trade legislation. The analysis determines that by 2030 the law would: • Reduce national GDP roughly $350 billon below the baseline level; • Cut net employment by 2.5 million jobs (even after accounting for new “green” jobs); and • Reduce earnings for the average U.S. worker by $390 per year. • Reduce an average household’s annual purchasing power by $830. Although the Chamber’s model, used by CRA International who … More

    Thank Goodness Global Warming Came Along—Just in Time to Help Us Fix the Economy!

    Can we tax, spend, and regulate our way to prosperity? Some say we can—if the taxing, spending, and regulating help fight global warming. North Carolina’s legislators are considering a package of 56 proposals to reduce greenhouse gas emissions. The proposals include such things as mandates on consumer appliances, energy-efficiency requirements for government buildings, subsidies for buying energy from renewable sources, subsidies for investment in renewable-energy technologies, mandating pay-as-you drive insurance, restricting the hours of operation of heavy trucks and buses, mandates for recycling electricity, rationing energy use by businesses (via … More