“The deposits of mineral substances and their exploitation are not characterized by features which would give a particular mark to human action dealing with them.”
I nominate the above 25 words for the shortest, sweetest statement of energy economics (really economics applied to mineral energies) in history. Properly understood, millions of words could have been spared trying to prove the opposite.
Ludwig von Mises (1881-1973) was the greatest economist of his generation and, indeed, the 20th century. John Maynard Keynes got the accolades, but his theory did not stand the test of time. Milton Friedman, the counterweight to Keynes from the free-market-oriented side, had many contributions that were more quantitative than the much-more-difficult qualitative. And Friedman, the great educator, did not pen a systematic treatise on the corpus of his discipline as did Mises, expositing “an economics that should have been but never was.”…
” … with adaptation, total costs will be much smaller than the headline-grabbing numbers that climate economists and our government agencies choose to highlight, and with future growth our society will be far better equipped to handle them.” (- Oren Cass, June 2019)
While government mitigation policies flounder and add waste to waste, market adaptation quietly internalizes the alleged negative externality of the human influence on global climate. Part of this influence is increased precipitation and flooding from a warmer world where the air holds more moister from the evaporation below.
MasterResource has reported from time to time on the almost invisible, ongoing climate/weather adaptation process, the unhampered market in action (see Appendix).
Tabasco Plant (2019)
One example that caught my eye a few years back was the McIlhenny Company constructing a 20-foot levee around its Tabasco plant on Avery Island off the Louisiana coast to insure against flooding.…
Back in December 2015, I submitted an editorial to the Houston Chronicle that they published in their edition to the suburbs–but not Houston proper. The fix was in; this would be one of the last editrials I would have published at a major suburban newspaper that went Left, far Left.
In the buildup to the Nov. 30-Dec. 11 United Nations climate summit in Paris, climate alarmists tried to end intellectual debate over the enhanced greenhouse effect. This is the 28th year of the climate crusade to globally cap industrial life.
The secular religion of climate “stabilization” did not arise from nowhere. It emerged in the same period as the discrediting of the Malthusian mainstays of depletion and pollution, as well as the discrediting of socialism/central planning. As such, it has been a savior for government control of economic life, or statism.…