Category Archives: Economics

Big Bangers

Steve Hayward wonders if there could be a sitcom about think tankers.

Actually, it would be amusing to see the interactions between denizens of, say, AEI and Brookings. And imagine the snark from Cato, CEI and Reason. I’d cast Katherine Mangu-Ward as herself. But Kate Micucci might be able to do the job, too. And then there’s Jonah.

Someone needs to work up a treatment, stat.

Earth Day

The good news:

German taxpayers have poured $130 billion into subsidizing solar panels, but ultimately by the end of the century, this will postpone global warming by a trivial 37 hours. The electric car is even less efficient. Its production consumes a vast amount of fossil fuels, and mostly it utilizes fossil fuel electricity to be recharged. Even if the U.S. did reach the lofty goal of 1 million electric cars by 2015 — costing taxpayers more than $7.5 billion — global warming would be postponed by only 60 minutes.

These beguiling policies cost a fortune but make little difference to the environment because the technologies are still not ready. That’s why we need to invest more in long-term research and development for green innovation. This would be much cheaper than current environmental policies and would end up doing more good for the climate.

But it wouldn’t pay off political cronies.

As he notes, it’s time to start having sensible, not economically stupid environmental policies.

[Update late morning]

The EU carbon market continues to collapse.

Good.

“If It Saves Just One Life”

I agree with this take on how the terrorists won in Boston. This sort of irrational risk aversion is the theme of my book. “Safe” is never an option, in any absolute sense. In order to prevent a potential death of a citizen, the authorities shut the whole town down, costing hundreds of millions of dollars to the local (and probably national) economy. The whole town, that is, except for the Duncan Donuts shops. Which, as he says, really tells you everything you need to know. It was security theater, just like TSA.

Life Extension And Entitlements

This is a serious issue about which most people, including most policy makers, are in denial:

Ultimately, the question is this: are Americans entitled to unlimited life expectancy? If so, perhaps we need to say goodbye to the notion of limited government as a greater share of wealth is devoted to the health and income needs of a much longer-lived population. From where I sit, unlimited life expectancy sounds appealing. Unlimited government? Not so much. Mr. Kurzweil’s vision greatly amplifies the urgency of our getting on with the task of fundamental entitlement reforms.

The Founders said that we had a right to the pursuit of happiness, which to me would include the pursuit of an indefinite lifespan, if our pursuit is generally successful, and we’re leading happy lives. But they granted no right to live off the labor of others.