Remembering Tom Moore: A Tribute to a Distinguished Economist
Yesterday, I received the sad news from Condi Rice that my esteemed colleague and dear friend, Tom Moore, has passed away. Tom, a long-time member of the Hoover Institution, left us on August 23 at the age of 93.
Tom was a brilliant economist whose contributions have left a lasting impact on the field. One of his notable works was the article “Trucking Deregulation” in The Fortune Encyclopedia of Economics in 1993, which later evolved into The Concise Encyclopedia of Economics. In the second edition of the latter, Tom penned an update titled “Surface Transportation Deregulation.”
He was a pioneer in the advocacy for deregulation, as evidenced by his participation in a forum on inflation hosted by President Ford in 1974. At that event, Tom championed the deregulation of transportation, airlines, energy, and other sectors, garnering support from a wide array of economists, spanning both political parties.
In addition to his work on deregulation, Tom delved into the topic of climate change with his article “Global Warming: A Balance Sheet” in the Concise Encyclopedia. Revisiting his insights nearly two decades later, it is remarkable how prescient his analysis remains.
Here is an excerpt from his piece:
Tom delved into the likely effects of global warming on various sectors of the economy. Contrary to the doomsday scenarios portrayed by the media, he highlighted that certain industries like manufacturing, services, and extractive industries would be minimally impacted by climate shifts. In fact, he pointed out that a warmer climate could even lead to lower transportation costs and benefit industries like mining and oil drilling.
While acknowledging potential challenges for sectors like tourism due to shifting weather patterns, Tom also emphasized the opportunities that a warmer climate could present, such as longer growing seasons and increased agricultural productivity.
Addressing concerns about rising sea levels, Tom discussed the potential costs of mitigation strategies like building dikes and levees, offering a pragmatic perspective on the economic implications of climate change.
Tom’s insightful analysis on deregulation and climate change underscores his enduring legacy in the field of economics. His contributions continue to resonate with relevance today.
As a personal tribute to Tom, I will be sharing my reflections on how I first encountered his work back in 1972 on my Substack platform. Stay tuned for the link to that post.
