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!! Ebook Download U.S. Energy Policy and the Pursuit of Failure, by Peter Z. Grossman

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U.S. Energy Policy and the Pursuit of Failure, by Peter Z. Grossman

U.S. Energy Policy and the Pursuit of Failure, by Peter Z. Grossman



U.S. Energy Policy and the Pursuit of Failure, by Peter Z. Grossman

Ebook Download U.S. Energy Policy and the Pursuit of Failure, by Peter Z. Grossman

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U.S. Energy Policy and the Pursuit of Failure, by Peter Z. Grossman

U.S. Energy Policy and the Pursuit of Failure is an analytic history of American energy policy. For the past forty years, the U.S. government has tried to develop comprehensive policies on energy, yet these efforts have failed repeatedly. These failures have not resulted from a lack of will or funds but rather from an inability to differentiate between what could be undertaken and what could actually be accomplished. This book explains how and why various policy efforts have come about, shows why politicians have been eager to back them, and analyzes why they have inevitably failed. Over the past four decades, U.S. energy policy makers have pursued not just policies that have failed but also a policy process that leads to failure.

  • Sales Rank: #1182276 in eBooks
  • Published on: 2013-03-31
  • Released on: 2013-05-02
  • Format: Kindle eBook

Review
Butler University economist Peter Z. Grossman offers a splendid, clearly written, masterly, wide-ranging analysis of these [energy] policy failures. His book is must reading for anyone concerned with energy policy and worth the attention of those with broader concerns about expansive government.- Richard L. Gordon, Regulation

Energy Book of the Year...Combining amazing detail, sparkling prose, and sound theory, Grossman fully exposes the mockery of a sham of our farcical "energy crisis" mentality... The book is over 350 pages of closely argued material, but not a single one of them drags. - Steven Hayward, powerlineblog.com

I highly recommend this book to anyone who wants to inquire deeply into U.S. economic history since the 1970s. - Kennedy Maize, Power

[I]mportant and sobering...with much insight about today's debate - Robert L. Bradley, Jr. masterresource.org
Professor Grossman's book is, in fact, a wonderful source of insight about both the economics and the politics of US energy policy... Everyone interested in energy policy (and in understanding why it has gone so badly astray) should read  U.S. Energy Policy and the Pursuit of Failure.--Lee Lane, Visiting Fellow, Hudson Institute @ ourenergypolicy.org"Over the decades, many journalists and academics have chronicled the myriad misadventures of U.S. energy policy, but few have done it as thoroughly or as well as Butler University economist Peter Grossman does in his essential book, US Energy Policy and the Pursuit of Failure... With US Energy Policy and the Pursuit of Failure, Peter Grossman has revealed himself to be the preeminent historian of American energy policy." --Robert Bryce, National Review Online.

About the Author
Peter Z. Grossman is the Clarence Efroymson Professor of Economics at Butler University. He is co-author, with Edward S. Cassedy, of Introduction to Energy (Cambridge University Press, 1999) and co-editor, with D. H. Cole, of The End of a Natural Monopoly: Deregulation and Competition in the Electric Power Industry. His scholarly articles have appeared in journals such as Energy Policy, Economic Inquiry, The Journal of Legal Studies and the Journal of Public Policy. For seven years, Professor Grossman was a regular columnist on economic issues for the Indianapolis Star and he has contributed commentary to many magazines and newspapers, including The Wall Street Journal and The Christian Science Monitor.

Most helpful customer reviews

6 of 6 people found the following review helpful.
L. L. Lane
By L. L. Lane
Peter Z. Grossman's latest book analyzes the unfolding of U.S. energy policy ca. 1970-2012. In part, U.S. Energy Policy and the Pursuit of Failure is a well-researched narrative history. In telling this story, Grossman enlivens his text with many quotations from the leading actors. These statements do a good job of conveying the mood and the dominant (often deeply confused) thought patterns then as now--a useful historical lesson if ever there was one.

But the book is meant to be much more than a narrative history. Rather, Professor Grossman's aims: (1) to show that throughout this period U.S. energy policy often did more harm than good, (2) to explain why the policy process produced such perverse outcomes, and (3) to sketch recommendations that would lead to better results in the future.

Pursuit of Failure succeeds completely in the first of these three analytic tasks. Professor Grossman shows that, just as Hayek warned, government has repeatedly flunked the informational challenges implied by large-scale central planning of energy. Its track record in forecasting oil and gas prices has been abysmal. And the oil and gas allocation controls of the 1970s were catastrophic. The book also crushingly debunks claims that state-run "Apollo Programs" can transform energy technology.

Professor Grossman is also largely convincing in explaining why so many U.S. energy policies have gone so badly astray. The book notes that public policies that are ostensibly meant to correct market failures are themselves invariably imperfect. Flawed policy measures emerge, as political economists have long argued, because both formal and informal institutions preclude the adoption of better ones.

It is only with respect to the third analytic challenge, prescribing improvements, where I am left wondering if Pursuit of Failure has not fallen somewhat short of the book's otherwise very high standard. While Professor Grossman offers eleven principles for improving energy policy, they can largely be subsumed under a single theme. It is that energy policy needs to become far more modest than it has been. That is, policy should trust more to markets. It should eschew hubristic Apollo Projects. It should choose measurable goals. It should avoid subsidies meant to commercialize technologies, and so forth. I could not agree more. Yet, these principles can be effective only if energy policy makers adopt them. And the latter remain in thrall to the same perverse incentives that Professor Grossman has described. Perhaps, then, we should embrace the goal of a more humble energy policy while (like Professor Grossman himself) expecting that government, absent institutional change, will produce more of the same foolish policies.

In sum, Energy Policy and the Pursuit of Failure astutely applies lessons derived from institutional economics and political economy to current issues of energy policy. Professor Grossman has written a balanced and thoughtful book that will be of value to both the energy policy experts and the general reader.

2 of 2 people found the following review helpful.
Superb insight
By MARK
I heard about this book from a recent National Review article by Robert Bryce titled Pursuing Energy Failure, Again and Again. Given his review, I bought it; despite my disinterests in academic theories that almost always typify economists’ coverage of such issues from “ivory tower” perspectives.

This time, I was rewarded virtually paragraph by paragraph (especially in chapter 2) with insights that were of immediate, practical use in my field of work; which is “energy efficiency” and “clean energy” policy analyses. While these subjects were not directly covered in this book in the same depth as biofuels (for example), they could easily be the perfect poster children for the failures Dr. Grossman so thoroughly describes.

3 of 3 people found the following review helpful.
excellent
By rb2006
If you care about energy, read this book. P Grossman has neatly distilled US policy over the decades into a readable, agreeable book.

See all 6 customer reviews...

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