Forgot about this classic @lpeblog.bsky.social symposium with some absolute bangers. lpeproject.org/symposia/lpe...
Symposia: LPE Methods
lpeproject.org
Jeff Gordon
@jeffgordon.bsky.social
Tax law, industrial policy, decarbonization, between state and market in American law. Assistant Professor at Vanderbilt Law School.
This whole long-ass thread is a great read for two interesting (and not necessarily mutually exclusive) takes on what's wrong with U.S. production capacity across many industries. (I'd love to see the author add a climate externalities layer, too!)
Jeff Gordon@jeffgordon.bsky.social · 5d agoI have a new working paper up on SSRN, Tax and the Law of Market Cycles. The core idea is: what if we applied everything we've learned about countercyclical macroprudential regulation to the boom-bust cycles of physical commodities and heavy industries? papers.ssrn.com/sol3/papers....
Great paper! A few comments — first overall meta-praise: we really need to develop methods of economic dirigisme that are consistent with the western liberal democratic tradition and that take into account both the imperfection of markets and of state guidance. This is right in that alley. 1/
Steve (@interfluidity.com) wrote a very helpful and provocative thread in response to this draft: bsky.app/profile/inte.... My response is here: bsky.app/profile/jeff...
Jeff Gordon@jeffgordon.bsky.social · 5d agoI have a new working paper up on SSRN, Tax and the Law of Market Cycles. The core idea is: what if we applied everything we've learned about countercyclical macroprudential regulation to the boom-bust cycles of physical commodities and heavy industries? papers.ssrn.com/sol3/papers....
Bumping this essay to note that the underlying article is now out for submission to journals: papers.ssrn.com/sol3/papers....
Industrial Policy as Competition Policy
<p>Throughout U.S. history, and especially in the present era, the government has shaped markets by giving advantages to some firms over others<span>—a version
papers.ssrn.com
Jeff Gordon@jeffgordon.bsky.social · last mo.Industrial policy is often in tension with competition - a problem I call "the dilemma of picking winners." In this essay and the associated working paper, I propose a framework for doing industrial policy without entrenching the winners. lpeproject.org/blog/the-dil...
Whoops, failed to post the one with the proposal: I propose a countercyclical excise tax/subsidy on new capacity additions, the core procyclical behavior. You can think of this as reversing current depreciation incentives. Firms should get negative depreciation at the top, bonus at the bottom.
Jeff Gordon@jeffgordon.bsky.social · 5d agoI have a new working paper up on SSRN, Tax and the Law of Market Cycles. The core idea is: what if we applied everything we've learned about countercyclical macroprudential regulation to the boom-bust cycles of physical commodities and heavy industries? papers.ssrn.com/sol3/papers....
I have a new working paper up on SSRN, Tax and the Law of Market Cycles. The core idea is: what if we applied everything we've learned about countercyclical macroprudential regulation to the boom-bust cycles of physical commodities and heavy industries? papers.ssrn.com/sol3/papers....
Tax and the Law of Market Cycles
<p>The signature development in financial regulation over the past two decades has been the macroprudential turn: the recognition that healthy financial conditi
papers.ssrn.com
Great piece, which, among other things, illustrates the value of reading across disciplines and putting heterodox economic traditions in conversation with the mainstream on pragmatic terms
Jeff Gordon@jeffgordon.bsky.social · last mo.Industrial policy is often in tension with competition - a problem I call "the dilemma of picking winners." In this essay and the associated working paper, I propose a framework for doing industrial policy without entrenching the winners. lpeproject.org/blog/the-dil...
Industrial policy is often in tension with competition - a problem I call "the dilemma of picking winners." In this essay and the associated working paper, I propose a framework for doing industrial policy without entrenching the winners. lpeproject.org/blog/the-dil...
The Dilemma of Picking Winners
Industrial policy will often require picking winners: if there were already many domestic firms capable of producing the desired output, there would be no compelling reason for subsidy or special…
lpeproject.org
Totally concur with the "highly recommended." @donibloomfield.bsky.social and @jeffgordon.bsky.social's sophisticated analysis of the the value of export controls is a must-read for anyone in the national security and innovation space.
Lawrence Solum@lsolum.bsky.social · 3mo agoBloomfield and Gordon on the New Export-Control Equilibrium Doni Bloomfield (Fordham University School of Law) and Jeff Gordon (Vanderbilt University - Vanderbilt Law School) have posted The New Export-Control Equilibrium (Fordham Law Legal Studies Research Paper No. 6634758) on SSRN. Here is the…
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.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6433579
t.co
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...
Exploring the Law and Economics of Resilience in Business
Explore the interplay of law and economics in enhancing corporate resilience against supply chain disruptions and external market pressures.
wustllawreview.org
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...
Ilmi@ilmi.bsky.social · last yr.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.
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.
Albert Pinto@70sbachchan.bsky.social · last yr.Sadly both the theories behind IRA have mostly failed 1. Deliverism: deliver jobs and investments to consolidate democratic voters -> win 2024 election 2. Poltiical Lock-In: deliver jobs and investments to red states & districts so that a IRA caucus inside the GOP would protect the clean economy
Awesome stuff in here. Turns out a lot of my favorite people are “LPE-adjacent”
LPE Blog@lpeblog.bsky.social · last yr.With summer just around the corner, are you looking to indulge in some juicy, page-turning scholarship? Today, the Blog highlights some of the hottest new forthcoming LPE and LPE-adjacent articles. 🔥🔥
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...
Mexico Enacts New Laws for the Power Sector | Norton Rose Fulbright
The Mexican government has implemented sweeping legislation for the energy sector Mexico, including a new electric sector law -- called the LESE
projectfinance.law
Kate Aronoff@katearonoff.bsky.social · last yr.I wrote about the Sheinbaum government’s industrial policy, and what it might have to teach aspiring post-neoliberals in the U.S. newrepublic.com/article/1948...
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...
The Techno-Industrial Policy Playbook
Policies for kickstarting America’s techno-industrial renaissance
rebuilding.tech
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...
In Defense of Everything-Bagel Liberalism | Washington Monthly
Critics warned that the Biden administration put so many conditions on the grants it offered to semiconductor manufacturers that the centerpiece of its industrial policy would fail. Those conditions t...
washingtonmonthly.com
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.
Jennifer Pahlka@pahlkadot.bsky.social · last yr.That viral clip from Ezra Klein on John Stewart about the 14 steps it takes to get rural broadband funding out the door? My guest author Sam Marullo worked at Commerce and has some perspective on this. Take a read: www.eatingpolicy.com/p/planning-i...
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…
Sahil Kapur@sahilkapur.bsky.social · last yr.NEW: Senate braces for high-stakes ruling that will decide the fate of Trump's tax cuts Republicans want to switch traditional "current law" baseline (TCJA permanence costs $4.6 trillion) to "current policy" (costs $0). Parliamentarian expected to rule NEXT WEEK. www.nbcnews.com/politics/con...
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/