Joshua Schubert



Articles by Joshua Schubert

Shedding Light on the Law of Unintended Consequences

The US Department of Energy has recently announced two new rules banning the manufacture of incandescent light bulbs starting in July 2022 and phasing in standards across industries over the following months. The Biden administration claims that this ban is a cost-saving measure that will “save consumers about $3 billion annually when fully implemented.” However, the net impact of this policy is unclear since the substitution of incandescents for LED lights comes with notable negative effects such as impaired sleep and consequently impaired productivity.
As the great economic columnist of the twentieth century Henry Hazlitt wrote, we must not look merely at the direct effects but also the indirect effects of a given policy change or individual choice.
It is worth mentioning that in 2020

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