[Editor note: MasterResource’s Atlas Shrugged week began with an overview (Part I–Monday) and has continued with a look at the book (Part II–yesterday) and the philosophy behind the book (Part III–today). The moral obligation of capitalists according to Rand (Part IV-Thursday) will be followed by Atlas shrugging in the energy market (Part V-Monday).]

“Facts are facts, independent of man’s feelings, wishes, hopes, or fears.”

 – Ayn Rand, “Introducing Objectivism” in Rand, The Voice of Reason: Essays in Objectivist Thought (New York: New American Library, 1988), p. 3.

“Clean energy” and “green jobs” are catch phrases at odds with the affordable, reliable energy required for a modern, expanding industrial society. So-called clean, green energy is politically correct but not very clean or green on close inspection.…

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.…

Between the current financial mess and the debate over carbon dioxide emissions controls, there is a lot of talk about regulation these days.  We are told, for example, that the recession would have been prevented if proper regulations had been in place.  While it is true that (by definition) the “right” regulations would have prevented bad and ensured good, it is also true that had an omniscient, omnipotent, omnibenevolent dictator been in charge, the recession would have been avoided as well.  The problem, of course, is that God, being otherwise occupied, didn’t run for President during the last election.

Enacting the right regulations is somewhat simpler than electing an omni-everything being to run the world, but not much.  As evidence, consider the fact that it was a lot of the wrong regulations that got us into this mess in the first place.  …

Dr. Pierre Desrochers, Associate Professor of Geography at the University of Toronto Mississauga, is the scholar’s scholar. In an age where few read all important material on all sides of their subject, this professor stands out.

Can President Obama strike a deal with the University of Toronto to make this course available to his top energy and environmental aides, even smartest-guy-in-the-room John Holdren? Energy legislation is currently stalled, and the summer might be a good time for a “time out” to learn the basics of energy and the free society.

Here is the syllabus for GGR 333H5F

The development of new energy sources has had a major impact on the development of both human societies and the environment. This course will provide a broad survey of past and current achievements, along with failures and controversies, regarding the use of various forms of energy.…