Atomic Energy Costing / Edition 1

by Warren Young

Overview

In the centennial year of the birth of Sir John Cockcroft, first master of my Cam­ bridge College, Churchill, and the first man to split the atomic nucleus by artificial means, it is indeed relevant to consider the outcome of his efforts at developing atomic power. From the earliest days of the construction of Calder Hall-the first nuclear power station in Britain-and the establishment of the British Atomic Research Center at Harwell, and the Chalk River Nuclear Station in Canada, through the "Windscale" nuclear accident in Britain, up to the present, when some 20% of UK energy is derived from nuclear power, the Cockcroft legacy is felt. As the British historian Mark Goldie put it, in the "pure and sanguine 1950s," Cockcroft had almost absolute "faith in 'peaceful atoms' and in the boundless, almost cost free, energy that atoms would soon produce" (Goldie, 1997, p. 21). But, as the eminent economist Frank Hahn recalled, "the only failing Cockcroft had" was "that he wasn't up to much in economics. " Indeed, Hahn recalled that he "had to explain" to Cockcroft "the economic notion of optimum durability" as it related to the "interest rate" in the context of building Churchill College with "hand-made bricks. " After his explana­ tion, as Hahn recalled "Cockcroft smiled and proceeded to order more hand-made bricks" (Hahn, 1997, p. 27).

Product Details

ISBN-13:	9780792383291
Publisher:	Springer US
Publication date:	11/30/1998
Series:	Topics in Regulatory Economics and Policy , #29
Edition description:	1998
Pages:	125
Product dimensions:	6.10(w) x 9.25(h) x 0.01(d)

Table of Contents

Introduction, Chronology and Background: a “New World” with “Free Energy”.- Key Questions and Debates, Ancient and Modern.- 1 “Ancient Debates” over Costing and Control of Atomic Energy, 1946–54.- A. Economic Costing, Consequences, and Control—the Cowles Project and Isard Studies and Lerner’s approach.- B. Variations on the theme: the UK Case—Blackett, Isard, Cherwell, Harrod and Cockcroft.- 2 Patterns, Paramteters, and Politicization of Atomic Energy Costing.- A. the Cost “Enigma” and Private Enterprise: profits and subsidies, interest and discount rates, private and social costs.- B. Politicization of Atomic Energy Costing: a new political economy perspective.- 3 Agency Theoretic and Welfare Aspects of Atomic Energy Costing and Regulation.- A. Alternate Principal-Agent approaches to Public Utilities and their Regulation: from “control” and “capture” to “regulatory environment”.- B. Pigovian and Coasian aspects of the Nuclear Cost Cycle.- C. “ Planning Context,” “Official Technology” and the notion of “Capture”: a critique.- 4 Modern Costing and Regulation Debates: from OPEC-1 Onwards.- A. the nuclear-political cost cycle: from “independence” to “constraints”.- B. a Free Lunch Again?—the New Atomic Energy the New Atomic Energy Costing Debate amongst economists and in the economic press from 1983 onwards.- 5 Atomic Power and Its Regulation: a Comparative Analysis and Critique of Projections.- A. The Japanese Nuclear Program—an overview.- B. Japanese and US Regulatory Approaches in Theory and Practice.- C. The UK case: regulatory failure or government failure?.- D. US Department of Energy Long Term Projections for Nuclear Power: a costing-based critique.- 6 Summary and Conclusions: Atomic EnergyCosting—Retrospect and Prospect.- Retrospect: “No Free Lunch”.- Prospect: from regulated “plutonium” to deregulated “hydrogen-based” economies.- Appendix:.- Simon, Marschak and Schurr on the “ ‘Economic’ and ‘Trigger’ Effects of Technological Change—the Case of Atomic Energy: from the 1940s to 1990s”.

Editorial Reviews

Covers debates that took place from 1946-1954 over costing and control of atomic energy; patterns, parameters, and politicization of atomic energy costing; agency theoretic and welfare aspects of atomic energy costing and regulation; modern debates from OPEC-1 onwards; and a comparative analysis and critique of projects relating to atomic power and its regulations. An appendix discusses explanations given by members of the Cowles Commission, which studied the peacetime uses of atomic power, concerning the "economic" and "trigger" effects of technological change. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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