The $2 billion loss at JPMorgan Chase (JPM) has reopened debate on the Volcker rule. The proponents of the rule have seized on the story as proof that the Volcker rule is necessary and should be quickly put into effect by regulation. In reality, however, if the facts are as thus far reported, what happened at JPMorgan is proof that the Volcker rule is unworkable and should be repealed. 

Any policy to control carbon dioxide emissions should take the form of a carbon tax or a cap-and-trade system with all permits sold at auction.

One critical economic question surrounding cap-and-trade is how to distribute the permits.

In both the nitrogen oxide and mercury rules,Maryland shouldconsider using auctions as a means of raising revenue to reduce economically harmful tax rates.

Wisconsin’s loss confirms not only that the Santorum coalition is a minority of the GOP, but close examination shows that he is losing his grip on his own voters.

All major EPA decisions are contentious, but the current flurry of regulatory initiatives raises unusually serious issues of costs and benefits, feasibility, methodology, and agency discretion.

A cap-and-trade system with freely allocated permits is equivalent to a carbon tax in which the tax revenue is given to stockholders.

This article is the first part of a two-part examination of the contentious issue of how state governments' provision of goods and services to the public should be taxed under a VAT.