Category Archives: Economics

Dissing Virgin Galactic

You can find a NASA astronaut to come up with any opinion you want, but Andy Thomas isn’t impressed with SpaceShipTwo. I share the criticisms (which were made by me and others when the SpaceShipOne concept was first revealed), but I don’t think it’s doomed to failure. It offers a different experience than New Shepard, and will have its own market. I continue to find it ironic that the systems Burt added for “safety” probably added hazards instead.

The Climate Wars

The first shots are being fired in western Europe:

Who pays for environmental virtue?

The gilets jaune revolt begs the issue: who pays to save the planet? The Paris accords absolved the very countries driving emission increases — China and India — from mandating emissions cuts until 2030, leaving the burden largely on the backs of the West’s own middle and working classes.

Yet many of these people need fossil fuels to get to work or operate their businesses. Tourists may gape at the high-speed trains and the Paris Metro, but the vast majority get to work in cars. More than 80 percent of the Paris metropolitan area population lives in the suburbs and exurbs, in an area nearly the size of Connecticut and Rhode Island combined.

Like the revolutionaries of 1789, people are enraged by the hypocrisy of their betters. In pre-revolutionary times, French aristocrats and top clerics preached Christian charity while indulging in gluttony, sexual adventurism and lavish spending. Today they see the well-off and well-connected buying their modern version of indulgences through carbon credits and other virtue-signaling devices. Meanwhile, as many as 30 percent of Germans and as many as half of Greeks are spending 10 percent or more of their income on energy, the definition of “energy poverty.” This is occurring while these policies prove sadly ineffective in reducing emissions while the much disdained US leads the large countries in cuts.

It’s not about saving the planet; it’s about the “elites” (who are elite in name only, not in talent or competence or intelligence) signaling their virtue to their peers, while defecating on the commoners and telling them it’s cotton candy.

[Update a while later]

It’s hard to believe that it’s been almost exactly nine years since I wrote this piece about the Precautionary Principle. And nothing has changed.

Seventy-Seven Years

I just noticed the date; it is one that, in Roosevelt’s words, “will live in infamy.” Seventy-seven years ago we abruptly entered the second world war when the Japanese attacked our fleet at Pearl Harbor. The passing of George H. W. Bush a week ago is a reminder that that event, along with the war itself, is passing from living memory.

Brokaw called them “The Greatest Generation.” I don’t know about that, but mine has not covered itself in glory. However I remain simultaneously hopeful for and fearful of the future. We do, for now, live in the best of times in human history.

But if you’re pessimistic, I guess you can take the Trump approach. After all, as Marx* once said, “What has posterity ever done for me?”

* Not that Marx. This one.