Sunday, November 13, 2011

...[W]hat they imagine they can design.

Russell Roberts is Professor of Economics at George Mason University and the J. Fish and Lillian F. Smith Distinguished Scholar at the Mercatus Center, and a research fellow at Stanford University's Hoover Institution.:

“The purpose of economics is to teach men how little they actually know about what they imagine they can design.”
-F. A. Hayek

This lesson is not merely lost on narcissists, it encourages them in their hubris to bring "order" to the market and to "better" all our lives.

Today's example is the plummeting price of solar panels, brought about by overproduction. Overproduction due specifically to government meddling. The solar panel industry has been economically damaged by subsidies, the reputation of "green jobs" has suffered significantly, thousands of workers are losing their jobs, the rule of law has been subverted by politicians covering their bets and taxpayers have been fleeced because they have to cover those bets. Perversely, all this is used as a critique of capitalism.

Those who should be most embarrassed and enraged by these failures, statist environmentalists, are the foremost apologists. It isn't about saving the planet, it's about enforcing their will.

HT Paladin

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