New draft! "Picking Winners: Industrial Policy and Monopoly." Govts inevitably funnel industrial policy to a handful of firms. I propose "anti-entrenchment industrial policy," a framework for picking winners without getting stuck with them.

Oil crisis is a fitting moment to share that my paper with Doni Bloomfield, The Law and Economics of Resilience, is now live: wustllawreview.org/2026/03/25/t...

I'll continue to make the case that policy resilience doesn't mean invincibility, and we shouldn't overinterpret when an otherwise effective policy succumbs to American Maosim. bsky.app/profile/ilmi...

This is a logical fallacy. A resilient strategy is not an invincible one. IRA may fail but note it's over the shocked objections of the market. One cannot ignore the decades of tax credit extension, for example, and then cherry pick a black swan data point.

Awesome stuff in here. Turns out a lot of my favorite people are “LPE-adjacent”

Great reporting. For more detail on the public-private electricity generation structures available under new Mexican laws, I found this helpful: www.projectfinance.law/publications...

I like a number of the people involved in this, but it's amusing to see the Tax Foundation folks (who are ideologically aligned) ripping apart the tax policy chapter (by Oren Cass) over on Twitter for a number of basic factual and conceptual errors. Cass is reminding us all the value of expertise...

Very DC, even the grocery stores getting in on abundance discourse

Excellent essay by @joeldodge07.bsky.social. "Everything bagel liberalism" might be a useful critique in theory but the examples critics have relied on (like childcare in CHIPS) are super weak. The firms got a good deal and the public got basic protections. washingtonmonthly.com/2025/04/24/i...

Remarkable graph from Berkeley Lab's annual report on solar deployment (through 2023). PPA prices have closely tracked the cost of electricity, suggesting very low profit margins for merchant generators. Tempting to call it cost of service regulation.

@lingchenscholar.bsky.social chatgpt is absolutely convinced that you have published an article about the local politics and regional rivalries of China's semiconductor industry. While this seems totally hallucinatory, I'm sure many of us would be grateful for such an article!

Amazing opportunity for a creative litigator with interests in private law to break into legal academia and work with one of the smartest and most generous mentors imaginable (Daniel Markovits)

Wow this is wild. James: "The Trump team didn't actually calculate tariff rates + non-tariff barriers, as they say they did. Instead, for every country, they just took our trade deficit with that country and divided it by the country's exports to us."

Happy to see commentary on industrial policy from people who were in the room. Sam rightly argues that Congress should allow agencies more iterative processes rather than linear waterfalls.This complements Bharat Ramamurti's point that incumbents lobbied for a slower process in the first place.

Using the arm of the state to punish people for writing op-eds the government disagrees with is tyranny.

Obviously “current policy” is incoherent…but if it means you don’t need to cut the IRA and Medicaid…

Extremely @nathantankus.bsky.social / @lookheron.bsky.social style report on the administrative complexity of lithium pricing. There is supply and demand if you zoom out far enough, but not sufficient to describe what's going on in the details. www.oxfordenergy.org/wpcms/wp-con...

Why do we need to derisk investment in renewables? Because moving to renewables (here, exploiting variation in RPS) raises electric price volatility, which widens credit spreads. Better storage will mitigate the volatility, but price-smoothing policy can help too. papers.ssrn.com/sol3/papers....

Figuring out how to reshape governance incentives towards high-output, low-margin strategies strikes me as a key desideratum, undoing perhaps the elimination of what shareholders take to be managerial agency costs. 19/

Just one example from this thread where @interfluidity.com annotates @donibloomfield.bsky.social and my "Law and Economics of Resilience" paper with observations that we should obviously borrow

I had missed this excellent post from @interfluidity.com "The core of an abundance agenda, I posit, would be to reshape American capitalism so that overcapacity, rather than capacity nearly fully employed, becomes the norm." drafts.interfluidity.com/2024/09/17/a...

Jeff Gordon, Fellow @ Yale Law School, presenting on universal vs. selective “carrots” / “sticks” deployed in tax frameworks via credits for fuel, hydrogen, electricity. Complex Qs of tech neutrality, counting emissions, carbon accounting, carbon “shelters.” Need for anti-abuse rules. #ecotaxlaw25

It is really striking how most panelists so far remain committed to a carbon price as the One True Path. Even after recent rollback in Canada. Do you think 20+ House Rs would be signing a letter against cutting the carbon tax? I'll be over here in the world of the second best...

Excited to be at Pace NYC the next two days for the Tax Law and Climate Change Symposium. I’ll be presenting on carbon shelters, the unintended consequences of the IRA’s green credits: papers.ssrn.com/sol3/papers....

Powerful slides from NextEra, via @zeitlin.bsky.social. New solar + storage is just beating new gas.

My view on abundance as conceived by Klein/Thompson: (1) good normative ideal, (2) much better politics than even its supporters seem to think, but (3) underbaked as policy because the links between corporate power and scarcity have been poorly theorized

We’ve all been there: you come up with a fun theory, then find one great example (zoning), one ok example (permitting), and one bad example (CHIPS)

USAspending.gov data is amazing. Bet you wouldn't have guessed that United Health eked ahead of Lockheed for contracting in 2024 (mostly for its role as third party administrator of VA community care networks)

This is really thorough

Alito USAID dissent suggests proper remedy would have been Tucker Act claims for money past due in the Court of Federal Claims. Do procedure folks think it would be hard to certify a class in this context? Other reasons to doubt that strategy in future cases?

This is a really fun paper. Doux commerce for the relationship between humans and AIs.

I'm excited to share that I'll be starting a new job this summer as assistant professor at Vanderbilt Law School. I couldn't have picked a better set of colleagues to support and challenge my work. I started grad school in 2015--thanks to all who supported me on this long road!

Really good analysis of how gas turbine manufacturers are slow-rolling capacity expansion because scared of prices falling. Shareholder-driven capital discipline is a headwind to investing for resilience, as we discuss in a new paper: papers.ssrn.com/sol3/papers....

I'm quite proud of this project (with Doni Bloomfield): The Law and Economics of Resilience, forthcoming at Wash U. L. Rev., and would love your reactions. This is our attempt at theorizing how law could systematically mitigate supply chain crises and underinvestment. papers.ssrn.com/sol3/papers....

I'm quite proud of this project (with Doni Bloomfield): The Law and Economics of Resilience, forthcoming at Wash U. L. Rev., and would love your reactions. This is our attempt at theorizing how law could systematically mitigate supply chain crises and underinvestment. papers.ssrn.com/sol3/papers....

Two new papers listed among these! taxprof.typepad.com/taxprof_blog...

Great summary of argument in NIH indirects case

More gerontocracy stats @samuelmoyn.bsky.social

I've been meaning to post my forthcoming article in Yale JREG, "Statutory Contracts." This is closely related, though not directly on point, to the current impoundments fight. papers.ssrn.com/sol3/papers.....

Had the best time @yalelawschool-yls.bsky.social at the Seminar in Private Law this afternoon talking about my work on onshore/ offshore geographies in tandem with Monica Prasad’s work. Thanks to @jeffgordon.bsky.social and Daniel Markovits for the invite.

I'm excited to share a new paper, "Carbon Shelters: Carbon Accounting as Tax Law" forthcoming in the California Law Review. It's a deep dive on the IRA's tech-neutral tax credits, which I observe are administratively equivalent to a carbon-tax-in-reverse. On SSRN: papers.ssrn.com/sol3/papers....

This “debate” between Luke and Beth cashes out in whether I read about export controls or modern selfhood next

Thank you @lookheron.bsky.social lpeproject.org/blog/on-writ...

My aunt claims she could have made this description of invasively testing infants for bacterial infections even more gruesome. A reminder of a world before widespread vaccination for bacterial disease. slate.com/technology/2...

Does anyone here have experience making FOIA requests for grant term sheets or cooperative agreements between federal agencies and their grantees?

The 45V hydrogen credit final rules reflect the cutting edge of trying to organize energy markets through subsidy eligibility. Did you know 45V aims to solve the problem of struggling nuclear reactor retirement? Just one of many choices that follows from taking induced grid emissions seriously.

Really good Statecraft pod with @nbagley.bsky.social, @energylawprof.bsky.social, and Adam White on CEQ's NEPA regs www.statecraft.pub/p/did-the-co...

Very very on board with this

Excited I'll be presenting "The Law and Economics of Resilience" (coauthored with Doni Bloomfield) at the Law & Macro conference at Michigan in January: lawandmacroeconomics.com/wp-content/u...