The Jevons Paradox

What?  You never heard of the Jevons Paradox?  Well, I expect that, given the current debate regarding the price of gas, you likely will even if economics is not your leisure reading subject of choice.   The Jevons Paradox, described by 19th century economist William Stanley Jevons (1835-1892), contends that improvements in fuel efficiency (then coal) … Continue reading The Jevons Paradox