The longtime chairman of the Cato Institute, William N. Niskanen, passed away last week at age 78. We shared the podium a few times on energy issues, and I admired his Enron project at Cato that resulted in two books, Corporate Aftershock: Lessons from the Collapse of Enron and Other Major Corporations (2003) and After Enron: Lessons for Public Policy (2005).
Like virtually everyone else who knew him, I remember Bill as a scholar and gentleman. He had one tone of voice and reliably imparted insightful logic. He was what I like to call a scholar’s scholar, role model for the rest of us.
Career
William Arthur Niskanen Jr. (1933–2011), born in Bend, Oregon, graduated from Harvard University with a degree in economics in 1954. He earned his economics doctorate in 1962 from the University of Chicago.…
” The Solyndra technology was far from innovative, much less game-changing. The DOE … failed to quantify the elasticity of production costs in a highly competitive market where solar panels are a commodity.”
“Given the many other companies with shaky financials that have received loan guarantees, I expect we’ll see more and larger epic fails like Solyndra in the coming years.”
– Robert Peltier, “Epic Fail, POWER, October 2011, p. 6.
The seasoned warnings against politically correct, market incorrect technologies for electric generation by POWER magazine editor-in-chief Robert Peltier are now being vindicated. Peltier did not anticipate the unseemly crony capitalism involved in such cases as Solyndra, but he knew that there was trouble ahead because of the technological problems of converting very dilute, intermittent energy into affordable, dispatchable power flows.…
“We created a way of raising standards of living that we can’t possibly pass on to our children. It has to collapse, unless adults stand up and say, ‘This is a Ponzi scheme. We have not generated real wealth, and we are destroying a livable climate.’”
– Joe Romm, quoted in Thomas Friedman, Is the Inflection Point Near?, New York Times, March 7, 2009.
“Is there any more single-minded, simple pleasure than viewing with alarm? At times it is even better than sex.”
—Kenneth Boulding (1970), p. 160. [1]
I know…. We free-market optimists–and we ObamaCare, ObamaEnergy, etc. pessimists–are like the chap who jumps off the skyscraper and reports that everything is breezy on the way down.
But we have been jumping off buildings ever since Robert Thomas Malthus’s An Essay on Population was published in 1798.…