whatyareckon

Depriving your economy of reliable and affordable power is the fastest way to wreck it. Which is the very thrust of the policy that has been adopted by every country currently obsessed with subsidised wind and solar.

The rent-seekers behind the greatest economic and environmental scam in history, still contend that there are millions of groovy Green jobs in the offing, if only we keep shovelling billions of dollars’ worth of subsidies in their direction. Although, all the evidence suggests otherwise.

The concept of destroying wealth (and indeed entire functioning cities) to ‘create’ new jobs is known in economics as the ‘broken window fallacy’. The notion being that, if every window in a city were simultaneously smashed, there will be thousands of new jobs for glassmakers and glaziers created by reason of the urgent necessity of their replacement.

Michael Munger details how the same woolly-headed thinking is being applied…