Tag Archives: tradeoffs

Tradeoffs Are Everywhere, Even in Recording Studios

Early in his career as a mixing engineer, Dave Pensado discovered a version of Nobel laureate economist Kenneth Arrow’s impossibility theorem. As he puts it in his co-authored book with his Pensado’s Place co-host Herb Trawick, The Pensado Papers: The Rise of the Visionary Sensation:

“I learned very early on, even before I came to L.A., that no one ever hired me again because I did something cheap or fast. That doesn’t happen in my profession. The triangle has cheap at the top, fast on one corner, and good on the other. pick two. That’s pretty much what you have to do.”

Yet another example that good economic thinking doesn’t always come from economists.

New CEI Podcast – October 25, 2010: Regulating Every Room

Have a listen here.

CEI’s Senior Fellow in Environmental Policy Ben Lieberman explains how new energy regulations affect every room in your house, from the basement to the bathroom to the kitchen and beyond.

Keeping Priorities Straight

vanuatu
Bjørn Lomborg, head of the Copenhagen Consensus, brings some much-needed common sense to the global warming debate. Reporting from Vanuatu, he finds that many of the locals haven’t even heard of global warming.

Torethy Frank is one of them. She has other priorities, such as escaping crushing poverty: “Torethy and her family of six live in a small house made of concrete and brick with no running water. As a toilet, they use a hole dug in the ground. They have no shower and there is no fixed electricity supply.”

You can see why the two degrees of projected warming over the next century are not at the top of her “problems to solve” list. I would argue that ending global poverty should be a little higher on ours. Certainly higher than global warming.