[Note: Last summer, philosophy professor Stephen Hicks (website here) interviewed MasterResource founder Rob Bradley. “The Robert L. Bradley Jr. Interview, ‘Enron and Political Entrepreneurship'” covers Bradley’s intellectual career and worldview regarding the market order and energy.
This series (in four parts: Part II, Part III, Part IV) is the full interview (with some elaboration), from which an abbreviated version was published in KAIZEN magazine (Issue 13: August 2010) and a longer version was posted online.]
Introduction
Rob Bradley worked at Enron for 16 years. As director of public policy analysis for his last seven years there, he wrote speeches for the late Ken Lay, Enron’s CEO, who was convicted in 2005 of fraud and conspiracy.
Bradley is also founder and CEO of the Institute for Energy Research of Houston, Texas, and Washington, D.C.…
Continue ReadingThose who are not yet convinced that government is vastly less efficient than private enterprise should closely examine the nation’s transit industry. In 1964, the industry was mostly private and earned an overall profit. In that year, Congress gave local governments incentives to take over transit, and by 1970, the industry was nearly all publicly owned.
Today it loses nearly $40 billion a year.
In that time, the industry has seen a spectacular decline in productivity. According to data published by the American Public Transportation Association, the industry’s chief lobby group, between 1970 and 2008, inflation-adjusted operating costs more than quadrupled, while transit ridership grew by about 40 percent. In the same time period, the number of annual transit riders carried per operating employee fell by nearly 50 percent. As economist Charles Lave observed, “It’s uncommon to find such a rapid productivity decline in any industry.”…
Continue ReadingOne would think that by now Obama Administration officials would admit that “wind farms” do not provide large economic and job benefits. However, recent Administration statements suggest the delusion continues and, perhaps, that officials do not understand why their expectations are unrealistic.
False expectations may be due to the infamous “JEDI” model (Jobs and Economic Development Impact model) developed for DOE’s National Renewable Energy Laboratory (NREL) by a wind industry consultant-lobbyist. Unfortunately, this “model”( paid for with our tax dollars) has been widely promoted by NREL and DOE and outputs from the model are used by “wind farm” developers to mislead the public, media, and government officials.
Economic models often produce false or misleading outputs because (a) the model itself is faulty, and/or (b) unrealistic assumptions are “fed into” to model, with the result that the models overstate national, state, and/or local job and other economic benefits.…
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