President Obama did not include Houston on his visit to Texas last week rallying his base and raising funds for Democrats for the November elections. The President was originally expected to be here but ended up in Austin and Dallas. Was this bypass a duck-out? After all, Congressman Kevin Brady (R. Tx.) pointedly invited the president to meet face-to-face with Houston energy workers on the other Gulf Crisis—the federal offshore drilling moratorium that threatens tens of thousands of jobs here and in much of the Gulf Coast region.
Sure, Obama’s Texas visit was not about helping Republican candidates or hosting a Tea Party event. But why couldn’t the president reserve an hour to talk to workers whose livelihoods depend on Houston’s largest industry – an industry that is being victimized by the President’s everyone-is-guilty drilling policy?…
“Material insufficiency and environmental problems have their benefits, over and beyond the improvement which they invoke. They focus the attention of individuals and communities, and constitute a set of challenges which can bring out the best in people” (emphasis added).
– Julian Simon, The Ultimate Resource 2 (1996), p. 587.
“We need our problems, though this does not imply that we should purposely create additional problems for ourselves.”
– Julian Simon, The Ultimate Resource 2 (1996), p. 588.
If he were alive, Julian Simon (1932–1998) would apply his view that our problems can make us better to the worst-case scenario that BP uniquely brought to life in the Gulf of Mexico this year.
Simon argued that there was a third driving force or condition for human improvement beyond the institutional framework for progress (private property, voluntary exchange, the rule of law) and the insightful reasons given for capitalistic progress (motivation, effective use of knowledge, trial and error feedback, etc.).…
Editor note: Milton Friedman would be 98 this Saturday July 31. (He died on November 16, 2006.) This exchange with Robert Bradley–when Dr. Friedman was 91 years old–is testament to the mental powers of one of the greatest social thinkers of modern time.
Friedman had not met Bradley but was in the habit of actively communicating with scholars until his final illness.
I had heard that the great economist and social thinker Milton Friedman (1912–2006) was a prolific communicator with those who posed worthy questions to him. So when I got interested in mineral resource theory, which would culminate with my 2007 essay, Resourceship: An Austrian Theory of Mineral Resources, I asked Dr. Friedman in August 2003 about his views on the late Julian Simon (1932–98), specifically whether Simon’s work on resources, and his conception of the ultimate resource, merited a Nobel Prize in economics.…