No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Monday, September 22, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Economy

Thomas Gale Moore RIP – Econlib

by TheAdviserMagazine
11 months ago
in Economy
Reading Time: 4 mins read
A A
Thomas Gale Moore RIP – Econlib
Share on FacebookShare on TwitterShare on LInkedIn


 

I just learned from Condi Rice yesterday that my long-time Hoover Institution colleague and long-time friend Tom Moore has died. He died on August 23. He was 93.

Tom was an excellent economist. He wrote the article titled “Trucking Deregulation” in The Fortune Encyclopedia of Economics, 1993, which later, after the rights reverted to me, became The Concise Encyclopedia of Economics. Then, when I put together the second edition of The Concise Encyclopedia of Economics, Tom wrote an update titled “Surface Transportation Deregulation.”

Tom was one of the early advocates of deregulation. At a forum on inflation held by President Ford in 1974, Tom circulated a statement calling for deregulation of transportation, airlines, energy, and a number of other sectors. (I’m going by memory here. The copy he gave me was destroyed in my 2007 office fire.) As I recall, he got the vast majority of economists, a group that included many Democrats as well as Republicans, to sign the statement.

Tom also wrote, for the second edition of the Concise Encyclopedia, the article “Global Warming: A Balance Sheet.” I reread his piece as background to this post. I find heartening how well some of his analysis holds up almost 20 years after he wrote.

Here’s an excerpt:

The media and many others have attributed to global warming every possible weather, from more to less climate variability, from more rainfall to more drought, and from more violent winter storms to fewer and weaker cold weather surges. But an examination of its likely effects suggests little basis for that gloomy view. According to the IPCC, global warming would warm winters more than summers, would produce more precipitation, and would lead to more of an increase in temperatures at higher latitudes—that is, in already cold regions—than at the equator.

How would climate affect economies? Climate affects principally agriculture, forestry, and fishing. For the United States, these three total less than 2 percent of the GDP. Manufacturing, most service industries, and nearly all extractive industries are immune to direct impacts from climate shifts. Factories can be built practically anywhere—in northern Sweden or in Canada, in Texas, Central America, or Mexico. Banking, insurance, medical services, retailing, education, and a wide variety of other services can prosper as well in warm climates (with air-conditioning) as in cold (with central heating). A warmer climate will lower transportation costs: less snow and ice will torment truckers and automobile drivers; fewer winter storms will disrupt air travel; bad weather in the summer has fewer disruptive effects and passes quickly; a lower incidence of storms and less fog will make shipping less risky. Higher temperatures will leave mining and the extractive industries largely unaffected; oil drilling in the northern seas and mining in the mountains might even benefit.

A few services, such as tourism, may be more susceptible to weather. A warmer climate would likely change the nature and location of pleasure trips. Many ski resorts, for example, might face less reliably cold weather and shorter seasons. Warmer conditions might also mean that fewer northerners would feel the need to vacation in Florida or the Caribbean. At the same time, new tourist opportunities might develop in Alaska, northern Canada, and other locales at higher latitudes or upper elevations. Shorter winters would benefit most outdoor recreation, such as golf, hiking, tennis, and picnicking.

In many parts of the world, warmer weather should mean longer growing seasons. If the world were to warm, the hotter climate would enhance evaporation from the seas and, in all probability, lead to more precipitation worldwide. Moreover, the enrichment of the atmosphere with CO2would fertilize plants, making for more vigorous growth. The IPCC assessment of warming is that “a few degrees of projected warming will lead to general increases in temperate crop yields, with some regional variation” (IPCC 2001, p. 32). Bjørn Lomborg, a Danish environmentalist and statistician, reported that with moderate adaptation by farmers, warming would boost cereal production in richer countries by 4–14 percent, while cutting them in poorer countries by 6–7 percent (2001, p. 288). The U.S. Department of Agriculture, in a cautious report, reviewed the likely influence of global warming and concluded that the overall effect on world food production would be slightly positive and that, therefore, agricultural prices would probably decrease (Kane et al. 1991).

Global warming could melt glaciers and thus cause rising sea levels, which would flood low-lying regions, including a number of islands and delta areas. The high-end estimate by the IPCC of the rise in the sea level by the year 2100 is three feet. Economists such as William Cline, William Nordhaus, and Richard Morgenstern, starting with this three-foot assumption, have estimated the costs of building dikes and levees and of the loss of land for the United States at $7–$10.6 billion annually, or about 0.1 percent of America’s GDP. For some small low-lying island nations, the problems would be much more severe; in some cases they might even be completely submerged.

The whole piece is well worth reading, as are his two pieces on transportation deregulation.

Today or tomorrow, depending on my time constraint, I’ll share, over at my Substack, my story about how I came across Tom’s work in 1972. I’ll post the link here.



Source link

Tags: EconlibGaleMooreRIPThomas
ShareTweetShare
Previous Post

Australian grocer Woolworths’ first-quarter sales rise about 5% By Reuters

Next Post

New AI entrants challenge advisors’ old CRM systems

Related Posts

edit post
If Socialists Actually Understood Socialism

If Socialists Actually Understood Socialism

by TheAdviserMagazine
September 22, 2025
0

In light of recent developments in New York City, specifically on the recent primary elections and the emergence of self-described...

edit post
U.S. Military Leaders Plan to Use the Killing of Charlie Kirk to Boost Recruitment. Will It Work? 

U.S. Military Leaders Plan to Use the Killing of Charlie Kirk to Boost Recruitment. Will It Work? 

by TheAdviserMagazine
September 22, 2025
0

“Charlie has awakened a generation of warriors.” That is one of the slogans apparently under consideration by US military leaders...

edit post
Will Private Defense Agencies Wage War—or Keep the Peace?

Will Private Defense Agencies Wage War—or Keep the Peace?

by TheAdviserMagazine
September 22, 2025
0

Anarcho-capitalism is a libertarian vision of a stateless society, where security, law and dispute resolution would be provided by private,...

edit post
Steven Pinker on Common Knowledge

Steven Pinker on Common Knowledge

by TheAdviserMagazine
September 22, 2025
0

0:37Intro. Russ Roberts: Today is September 2nd, 2025, and my guest is cognitive psychologist and author Steven Pinker, the Johnstone...

edit post
Mass Protests Against Austerity Measures In France

Mass Protests Against Austerity Measures In France

by TheAdviserMagazine
September 22, 2025
0

Over 100,000 people took to the streets of France to protest government mismanagement. The people are demanding that Prime Minister...

edit post
Lula Refuses To Speak With Trump

Lula Refuses To Speak With Trump

by TheAdviserMagazine
September 22, 2025
0

Brazil’s President Luiz Inácio Lula da Silva is actively destroying a once-growing economy. Lula told the BBC he refuses to...

Next Post
edit post
New AI entrants challenge advisors’ old CRM systems

New AI entrants challenge advisors' old CRM systems

edit post
Industrial Logistics Properties Trust Announces Third Quarter 2024 Results By Investing.com

Industrial Logistics Properties Trust Announces Third Quarter 2024 Results By Investing.com

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
Big Dave’s Cheesesteaks CEO grew up in ‘survival mode’ selling newspapers and bean pies—now his chain sells a  cheesesteak every 58 seconds

Big Dave’s Cheesesteaks CEO grew up in ‘survival mode’ selling newspapers and bean pies—now his chain sells a $12 cheesesteak every 58 seconds

August 30, 2025
edit post
Disney brings back Jimmy Kimmel’s show after backlash spurred massive boycott

Disney brings back Jimmy Kimmel’s show after backlash spurred massive boycott

0
edit post
Projected Surge in Uninsured Will Strain Local Health Systems

Projected Surge in Uninsured Will Strain Local Health Systems

0
edit post
Powell, Parabolic Moves and Other Key Things to Watch this Week

Powell, Parabolic Moves and Other Key Things to Watch this Week

0
edit post
Did the U.S. Just Tap Into Unlimited Energy?

Did the U.S. Just Tap Into Unlimited Energy?

0
edit post
If Socialists Actually Understood Socialism

If Socialists Actually Understood Socialism

0
edit post
Avantis and Aster defy market downturn with impressive rallies

Avantis and Aster defy market downturn with impressive rallies

0
edit post
Disney brings back Jimmy Kimmel’s show after backlash spurred massive boycott

Disney brings back Jimmy Kimmel’s show after backlash spurred massive boycott

September 22, 2025
edit post
Avantis and Aster defy market downturn with impressive rallies

Avantis and Aster defy market downturn with impressive rallies

September 22, 2025
edit post
Retailers are snipping price tags and ditching discounts to keep up with tariffs

Retailers are snipping price tags and ditching discounts to keep up with tariffs

September 22, 2025
edit post
Reunion Resort and Golf Club Review: Great For Group Trips To Disney

Reunion Resort and Golf Club Review: Great For Group Trips To Disney

September 22, 2025
edit post
More Millionaires Are Choosing to Rent Rather Than Buy

More Millionaires Are Choosing to Rent Rather Than Buy

September 22, 2025
edit post
Crypto.com Expands Institutional Custody Services With Exodus Partnership

Crypto.com Expands Institutional Custody Services With Exodus Partnership

September 22, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Disney brings back Jimmy Kimmel’s show after backlash spurred massive boycott
  • Avantis and Aster defy market downturn with impressive rallies
  • Retailers are snipping price tags and ditching discounts to keep up with tariffs
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.