What did Julian Simon have in common with Bjorn Lomborg? Both had strong statistics experience, and both started their research believing in popular environmental and over-population fears. Both Simon and Lomborg were convinced they could employ statistical research to document and address these problems.
However, both Simon and Lomborg unexpectedly proved themselves wrong by looking seriously at empirical evidence. Simon’s Malthusian-paradigm-busting book, The Ultimate Resource (1981), influenced many with its optimistic pro-technology data, analysis, and conclusions. (1) Years later Wired magazine interviewed Julian Simon and put him on the cover, complete with Julian’s little red devil’s horns.
Bjorn Lomborg picked up the Wired issue at the Los Angeles airport and read Simon’s claims with skepticism and even dismay. Simon had to be wrong! And as a statistic professor, Lomborg was confident he could document and popularize the errors. …
Continue Reading[The greatest opportunity for wealth creation in many poor countries is oil and gas development. In particular, subsoil privatization can incite resourceship and democratize wealth as explained by Guillermo “Billy” Yeatts in Subsoil Privatization for Energy Sustainability. The following post by Cyril Boynes, Jr. co-chair of the Congress of Racial Equality Uganda, contributes to this discussion.]
I am of a Christian background. However, one of my favorite people was Jewish, and another is Muslim.
The Jewish man was business professor and author Julian Simon. He taught that people are the world’s most valuable resource, and the “ultimate resource” is our creative intellect.
The Muslim is Bangladeshi banker and economist Muhammad Yunus. He says “poor people are like bonsai trees,” planted in a little pot. “There is nothing wrong with their seeds.…
Continue Reading“But you must remember, my fellow-citizens, that eternal vigilance by the people is the price of liberty, and that you must pay the price if you wish to secure the blessing. It behooves you, therefore, to be watchful in your States as well as in the Federal Government.”
— Andrew Jackson, Farewell Address, March 4, 1837.
President Obama’s proposed FY2012 Federal Budget has come under heavy fire for its modest reach in real reform. With deficits projected to be in the trillions for the foreseeable future, the amount of budget cutting proposed is certainly underwhelming. Lost in the battle over $6 billion cuts offered by the President and the Democrats, and the $61 billion of cuts the Republicans want, is the use of another powerful tool to help get the economy moving – reining in regulation.…
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