Part I yesterday explained Adam Smith’s notion that general human betterment was the unintended result of each individual following his own self-interest in the market arena of voluntary and competitive exchange. Adam Smith considered such natural order far superior to attempts by government, by those in political power, to design and impose an order and coordination in the actions of the members of society.
Echoing his earlier warnings about the social engineer, that “man of system,” Smith stated:
… Continue ReadingBy pursuing his own interest [the individual] frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good . . .
What is the specie of domestic industry which his capital can employ, and of which the produce is likely to be of the greatest value, every individual, it is evident, can, in his own situation, judge much better than any statesman or lawgiver can do for him.
“After years of debate there is still disagreement and uncertainty regarding appropriate safety setback distances. This uncertainty has benefited the wind industry. Thousands of turbines are erected throughout the U.S. that are dangerously close to where people live.”
Last month, Ohio infuriated wind proponents by passing Senate bill 310, a bill that delays the state’s renewable electricity standard for two years and eliminates the requirement that half of the renewables mandate be met with in-state resources.
Within days of SB310 passing, Ohio Governor John Kasich approved a change to the safety setback distances for wind turbines. Under the new law, setbacks will now be measured at the property line of the nearest adjacent property as opposed to the wall of a nearby home. In practice, this will require minimum distances of at least 1,300 feet from property lines to each turbine base.…
Continue Reading“The business voices change, the decades change, but the arguments are familiar. Problem is, the global average temperature today is not appreciably higher than when Ken Lay penned his op-ed. The year 1998 would be the temperature peak, in fact, that marked the beginning of ‘the pause‘.”
Henry Paulson began his recent New York Times opinion-page editorial, “The Coming Climate Crash,” as follows:
“There is a time for weighing evidence and a time for acting. And if there’s one thing I’ve learned throughout my work in finance, government and conservation, it is to act before problems become too big to manage.”
Ken Lay ended his Houston Chronicle opinion-page editorial of December 5, 1997, “Let’s Have an Ounce of Global-Warming Prevention,” [1] similarly:
… Continue Reading“It’s time to stop debating the issues surrounding climate change initiatives and focus instead on simple, realistic, cost-effective solutions.