The really inconvenient truth: real price of our energy

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A different take

"Economics and business have a notoriously short-sighted, narrow-
minded set of considerations. Haven?t we just re-learned that ancient
lesson from the hedge funder corruption and the phoney mortgage
miasma?"

What lesson did you learn? Did these markets fail or did government
intervention in market operations corrupted them? Why are tax payers
saddled with massive debts if these markets were allowed to fail?

Governments were all over these failures (legislation supporting loans
to disadvantage borrower, licenses for financial operators restricting
competition but failed claimed oversight, lax monetary policy,
subsidiaries to failing corporations, etc).

Free-er markets have lifted more people out of poverty than any
government. Literary billions of people in the last decade. The
markets productive capacity has been underpinned by inexpensive
energy.

Coal pollutants in 19th century London were a problem, but have you
visited lately? A cleaner environment for many more people with a
standard of living and health unimaginable to the cities earlier
inhabitants.

A similar transformation is occurring throughout the developing
world. For those of us witnessing this transformation the progress is
truly amazing. I'd suggest Harry go there sometime but he probably
couldn't justify the emissions.

The greatest crime against humanity will be if Harry and friends get
their way and restrict development. Their complaints are nothing new
and have been made throughout human history. Fortunately mankind
has ignored these prophecies of doom and we in the developed world
enjoy a quality of life unimaginable even a few decades earlier.

Our lifestyle is such that we can indulge the Harrys of the world. But
make no mistake, follow their teachings and billions of people will
suffer.

Mistakes will continue to be made. Unscrupulous businessmen, often
with government support/corruption, will exist. Harry lists a half
dozen cases in his blog. I excuse none of them. However billions of
other stories remain untold by these few. This is the inconvenient
truth you search.

Posted by: Richard Flude   Posted on: 10/17/09  (Edited: 10/17/2009 @ 02:22) You are currently: a Guest | Members login | Terms of Use

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