Ed. note: MasterResource is closely associated with the worldview and example of Julian Simon (1932–1998). But a second influence would certainly be that of economist Ludwig von Mises (1881–1973), born on this day 140 years ago.
Below, Robert Bidinotto’s “Von Mises: A Final Salute.” Unbound! Boston: Individuals for a Rational Society 2, no. 1 (September-October 1973): 1–2 is reprinted with permission of the author.
A surprisingly fair obituary in the New York Times (October 11, 1973) follows that of Bidinotto below. I then conclude with a final observation.
“The scope and content of von Mises’ work boggle the imagination. He was easily the greatest economist of this century, and the list of his original achievements in that science rivals that of anyone since Adam Smith.”
Our age may well be labeled by future historians as “the Age of Mediocrity.”…
“Energy density is the silliest of all. Yours is ‘dense’ energy that we have to pay for, every day, forever, except that it eventually runs out, vs. energy that arrives for free, forever, and never runs out.” (Bryan, below)
“Perhaps wind and solar are not renewable energies because usable surface area is finite and the infrastructure otherwise wears out–or the technology is too expensive to even compete as a ‘nonrenewable.’ Solar is not ‘renewable’ for many hours of the day, right? Wind too.” (Bradley, below)
The term resourceship has been coined to understand why ‘depletable’ resources can an do expand over time. In fact, when it comes to oil, gas, and coal, such expansion has been for all time. Only nationalization, price controls, and other destructive government policies can reverse the natural progress of human ingenuity applied to minerals (as to non-minerals) in the real world.…
“Capitalism turns luxuries into necessities. Socialism turns necessities into luxuries.”
“What did socialists use before candles? …. Electricity”
These are just funny jokes until a scenario unfolds where a huge lifestyle disruption lurks for you, your family, friends, and most everyone else.
Matt Ridley of the UK is there. And the notable classical-liberal thinker and writer is steamed about it.
Energy crises should be a thing of the past, the West having painfully learned to avoid the price and allocation controls that cause physical shortages and fuel riots.
Now, energy crises occur in the name of “green” energy policies that force inferior energies on the power grid–and discourage or prohibit the fossil fuels from doing their yeoman work. Consumers lose. Businesses lose. Taxpayers lose. A small intellectual and political elite win.…