Carlin Economics and Science

With emphasis on climate change

Why the Private Marketplace Is a Better Bet than Government Fiat on Climate Issues

What the climate alarmists are basically arguing is that decisions on energy use and production should be determined by government on the basis of their preferences. If they were being logical they would need to find that the long used decision making system on these issues consisting largely of private decisions in the economic marketplace are leading to faulty decisions. They have utterly failed to do this. In fact, just the opposite is the case. Governments make bad decisions on economic issues all the time. And on “climate” issues, they almost always do so.

The advantage of the marketplace approach to economic decision making is that those making the decisions must live with the consequences. If they make a bad decision, they will end up losing money and may lose some or all of their investment. If government makes a bad economic decision, on the other hand, all that happens is that the taxpayers or ratepayers get stuck with the bill. Climate alarmism has given rise to an amazing number of terrible economic decisions. In fact, it is hard to find any good ones.

A Few Examples

The examples are found wherever climate alarmist ideology has been used to make energy-related decisions. German and UK electricity prices have doubled and tripled as a result of government decisions. South Australia’s electric grid has failed five times in the last six months after government meddling. And all for what? The myth that carbon dioxide generated by the use of fossil fuels will result in higher global temperatures. This is just one more government-generated idea that can now be shown to be wrong. But as long as taxpayers or ratepayers end up paying the bills, it will continue in those areas where economic decisions are made by governments rather than the economic marketplace.

What needs to be reformed is not energy use and generation determined by the private marketplace, but special interest interference in the process without a careful showing of serious problems arising from marketplace-based decisions.

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Mark

Typo alert:

THE SUBVERSION OF SCIENCE BY GREEN-LEFT POLITICS
link is lower case: http://blackjay.net/?page_id=356

Justbeau

The showdown with Nirth Korea shows trump to be a realist and thus will serve climate change well in the long run.

North Korea is a real threat to peace and prosperity for millions of people. It’s not a fantasy threat like climate change. Rather North Korea is a horrible threat that is not just a Hollywood movie, but real. Trump is not inclined to kick the can down the road as has been irresponsibly going in for years.

So if the White House did not bail on the Paris accord, this is now revealed to be very smart.
The family of nations has a serious problem in North Korea. It would be wonderful if it were only a fantasy like climate change fake news. Instead NK is a very sobering and plausible risk to millions.

Mark

Alan,

You will likely find this post by John Reid:

CHAIRMAN MAO AND PREMIER JAY โ€œNew Technology in a Command Economyโ€

http://blackjay.net/?p=414

of interest as it covers why it might be a good idea to use the market economy when developing new stuff.

I found Dr. Reidโ€™s insights on how the use of the precautionary principle can work out rather badly:

โ€œBut you canโ€™t be too careful, I hear you say. Well, yes you certainly can be too careful.โ€ to be spot on:

THE SUBVERSION OF SCIENCE BY GREEN-LEFT POLITICS
http://BLACKJAY.NET/?PAGE_ID=356

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